Pine Cliff Energy Ltd (TSE:PNE) had its price objective reduced by Canaccord Genuity from C$1.75 to C$1.50 in a research note issued to investors on Wednesday morning.

A number of other analysts also recently issued reports on the stock. TD Securities dropped their target price on shares of Pine Cliff Energy from C$1.35 to C$1.10 and set a buy rating for the company in a research report on Wednesday, February 15th. National Bank Financial dropped their target price on shares of Pine Cliff Energy from C$1.35 to C$1.05 and set a sector perform rating for the company in a research report on Thursday, February 2nd. CIBC dropped their target price on shares of Pine Cliff Energy from C$1.15 to C$1.05 in a research report on Wednesday, January 25th. Desjardins increased their target price on shares of Pine Cliff Energy from C$1.30 to C$1.40 in a research report on Wednesday, December 7th. Finally, Scotiabank increased their target price on shares of Pine Cliff Energy from C$1.15 to C$1.30 and gave the stock a sector perform rating in a research report on Wednesday, December 7th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of C$1.31.

Pine Cliff Energy (TSE:PNE) opened at 0.73 on Wednesday. The stock has a 50 day moving average of $0.80 and a 200-day moving average of $0.99. Pine Cliff Energy has a one year low of $0.61 and a one year high of $1.22. The firm’s market capitalization is $224.08 million.

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In related news, insider Robert Disbrow purchased 71,000 shares of the firm’s stock in a transaction on Friday, March 10th. The stock was purchased at an average price of C$0.69 per share, for a total transaction of C$48,990.00. In the last 90 days, insiders acquired 438,500 shares of company stock valued at $341,780.

About Pine Cliff Energy

Pine Cliff Energy Ltd. (Pine Cliff) is a Canada-based oil and gas exploration and production company. The Company is engaged in the exploration, development and production of oil and natural gas in the Western Canadian Sedimentary Basin (WCSB). It is also involved in the exploration for precious metals through its subsidiaries.

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