Pine Cliff Energy Ltd (PNE) Downgraded to “Hold” at Industrial Alliance Securities
Pine Cliff Energy Ltd (TSE:PNE) was downgraded by equities researchers at Industrial Alliance Securities from a “buy” rating to a “hold” rating in a report released on Friday.
A number of other equities analysts also recently commented on the company. Clarus Securities restated a “buy” rating on shares of Pine Cliff Energy in a research note on Tuesday. TD Securities decreased their target price on Pine Cliff Energy from C$0.85 to C$0.80 and set a “hold” rating for the company in a research note on Friday, August 11th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of C$1.28.
Pine Cliff Energy (TSE:PNE) traded up 2.00% during mid-day trading on Friday, reaching $0.51. The company’s stock had a trading volume of 87,300 shares. Pine Cliff Energy has a 12 month low of $0.49 and a 12 month high of $1.22. The firm’s market capitalization is $156.61 million. The stock’s 50-day moving average is $0.61 and its 200-day moving average is $0.71.
In other Pine Cliff Energy news, insider Robert Disbrow purchased 50,000 shares of the business’s stock in a transaction dated Thursday, September 21st. The shares were bought at an average price of C$0.66 per share, with a total value of C$33,000.00. In the last ninety days, insiders have bought 447,500 shares of company stock worth $271,685.
Pine Cliff Energy Company Profile
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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