Pine Cliff Energy (TSE:PNE) Price Target Lowered to C$1.20 at Canaccord Genuity Group

Pine Cliff Energy (TSE:PNE) had its target price reduced by Canaccord Genuity Group from C$1.40 to C$1.20 in a research report sent to investors on Wednesday, BayStreet.CA reports. They currently have a buy rating on the stock.

Several other analysts also recently weighed in on the company. Desjardins cut their target price on Pine Cliff Energy from C$1.50 to C$1.25 and set a buy rating on the stock in a research note on Friday, March 22nd. Stifel Nicolaus dropped their price objective on Pine Cliff Energy from C$1.50 to C$1.40 and set a hold rating on the stock in a research note on Wednesday, March 6th.

Pine Cliff Energy Stock Down 1.0 %

Shares of Pine Cliff Energy stock opened at C$0.99 on Wednesday. The business’s fifty day moving average price is C$1.05 and its two-hundred day moving average price is C$1.30. The company has a debt-to-equity ratio of 62.18, a current ratio of 0.48 and a quick ratio of 1.48. The company has a market capitalization of C$352.74 million, a P/E ratio of 33.00 and a beta of 0.52. Pine Cliff Energy has a 1-year low of C$0.94 and a 1-year high of C$1.68.

Pine Cliff Energy Dividend Announcement

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

Insider Transactions at Pine Cliff Energy

In other news, Director Philip Blake Hodge acquired 25,000 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were bought at an average price of C$1.02 per share, with a total value of C$25,402.50. In the last 90 days, insiders have bought 33,900 shares of company stock valued at $37,525. Corporate 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.