Pine Cliff Energy (TSE:PNE) Sets New 52-Week Low – Here’s Why

Pine Cliff Energy Ltd. (TSE:PNE) shares reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as C$0.75 and last traded at C$0.76, with a volume of 177192 shares. The stock had previously closed at C$0.78.

Pine Cliff Energy Stock Down 1.3 %

The company has a current ratio of 0.47, a quick ratio of 1.48 and a debt-to-equity ratio of 76.74. The company has a market capitalization of C$268.02 million, a PE ratio of -17.86 and a beta of 0.37. The business has a fifty day moving average of C$0.87 and a 200 day moving average of C$0.90.

Pine Cliff Energy Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 31st will be issued a $0.005 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.06 dividend on an annualized basis and a yield of 8.11%. Pine Cliff Energy’s dividend payout ratio (DPR) is presently -144.83%.

Insider Buying and Selling

In other news, Director Robert Brent Fryk purchased 68,500 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The stock was bought at an average price of C$0.80 per share, for a total transaction of C$54,731.50. Insiders purchased 88,500 shares of company stock valued at $70,432 in the last three months. 10.97% of the stock is owned by corporate insiders.

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.