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

Pine Cliff Energy (TSE:PNE) had its price objective decreased by investment analysts at Desjardins from C$1.25 to C$1.20 in a note issued to investors on Tuesday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ price target would indicate a potential upside of 21.21% from the company’s current price.

A number of other equities analysts also recently commented on PNE. Stifel Nicolaus decreased their price objective 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. Canaccord Genuity Group decreased 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.

Pine Cliff Energy Stock Up 2.1 %

Shares of PNE stock traded up C$0.02 during mid-day trading on Tuesday, reaching C$0.99. 37,140 shares of the company were exchanged, compared to its average volume of 338,866. 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 debt-to-equity ratio of 62.18, a quick ratio of 1.48 and a current ratio of 0.48. The company has a market capitalization of C$352.74 million, a P/E ratio of 33.00 and a beta of 0.52. The business’s 50 day simple moving average is C$1.05 and its 200 day simple moving average is C$1.29.

Insider Buying and Selling at Pine Cliff Energy

In related news, Director Philip Blake Hodge bought 25,000 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were bought at an average cost of C$1.02 per share, for a total transaction of C$25,402.50. Over the last three months, insiders have purchased 33,900 shares of company stock worth $37,525. 20.42% of the stock is owned by insiders.

About Pine Cliff Energy

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.