Pine Cliff Energy (TSE:PNE) PT Lowered to C$1.20 at Desjardins

Pine Cliff Energy (TSE:PNE) had its price objective trimmed by Desjardins from C$1.25 to C$1.20 in a report released on Tuesday morning, BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Several other research firms also recently weighed in on PNE. Canaccord Genuity Group reduced their price objective on shares of Pine Cliff Energy from C$1.40 to C$1.20 and set a buy rating for the company in a report on Wednesday, April 17th. Stifel Nicolaus cut their price target on shares of Pine Cliff Energy from C$1.50 to C$1.40 and set a hold rating for the company in a report on Wednesday, March 6th.

Pine Cliff Energy Stock Performance

PNE stock opened at C$0.99 on Tuesday. The company has a market capitalization of C$352.74 million, a P/E ratio of 33.00 and a beta of 0.52. The company has a 50-day simple moving average of C$1.04 and a 200 day simple moving average of C$1.29. Pine Cliff Energy has a fifty-two week low of C$0.94 and a fifty-two week high of C$1.68. The company has a quick ratio of 1.48, a current ratio of 0.48 and a debt-to-equity ratio of 62.18.

Pine Cliff Energy Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be issued a $0.005 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 6.06%. The ex-dividend date is Friday, April 12th. Pine Cliff Energy’s payout ratio is 200.00%.

Insider Buying and Selling at Pine Cliff Energy

In other news, Director Philip Blake Hodge acquired 25,000 shares of Pine Cliff Energy stock in a transaction on Thursday, March 7th. The stock was bought at an average cost of C$1.02 per share, with a total value of C$25,402.50. Insiders own 20.42% of the company’s stock.

Pine Cliff Energy Company Profile

Pine Cliff Energy Ltd. engages in the acquisition, exploration, development, and production of natural gas and crude oil in the Western Canadian Sedimentary Basin. The company primarily holds interest in oil and gas properties in the Viking and Ghost Pine area of Central Alberta, as well as in the Southern Alberta, Southern Saskatchewan, and Edson areas.