Equities Analysts Issue Forecasts for Pine Cliff Energy Ltd’s FY2019 Earnings (TSE:PNE)
Pine Cliff Energy Ltd (TSE:PNE) – Equities researchers at Cormark issued their FY2019 earnings per share (EPS) estimates for Pine Cliff Energy in a research note issued to investors on Thursday. Cormark analyst A. Arif forecasts that the company will earn ($0.05) per share for the year.
Separately, TD Securities reduced their price target on Pine Cliff Energy from C$0.85 to C$0.80 and set a “hold” rating on the stock in a report on Friday. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of C$1.27.
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Pine Cliff Energy (TSE PNE) remained flat at $0.71 during midday trading on Friday. 12,950 shares of the company traded hands. The stock’s market cap is $218.02 million. The firm has a 50 day moving average price of $0.73 and a 200 day moving average price of $0.78. Pine Cliff Energy has a 52-week low of $0.65 and a 52-week high of $1.22.
In other news, insider George Frederick Fink acquired 59,000 shares of Pine Cliff Energy stock in a transaction on Friday, May 19th. The shares were bought at an average cost of C$0.85 per share, for a total transaction of C$50,150.00. Also, insider Robert Disbrow acquired 50,000 shares of Pine Cliff Energy stock in a transaction on Monday, July 24th. The shares were purchased at an average price of C$0.69 per share, for a total transaction of C$34,500.00. Insiders have acquired a total of 321,500 shares of company stock worth $241,675 over the last 90 days.
About Pine Cliff Energy
Pine Cliff Energy Ltd. engages in the acquisition, exploration for, development, and production of natural gas, crude oil, and natural gas liquids in the Western Canadian Sedimentary Basin.The company primarily holds interests in natural gas assets in the Southern core area and Edson core area; and oil and natural gas assets in the Viking and Ghost Pine area of Central Alberta.
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