Pine Cliff Energy (PNE) PT Lowered to C$0.40 at Desjardins

Pine Cliff Energy (TSE:PNE) had its price target cut by research analysts at Desjardins from C$0.50 to C$0.40 in a report released on Wednesday. Desjardins’ price target suggests a potential upside of 33.33% from the company’s previous close.

Several other equities research analysts have also recently commented on PNE. National Bank Financial dropped their price target on shares of Pine Cliff Energy from C$0.65 to C$0.50 and set a “sector perform” rating on the stock in a research report on Tuesday, January 9th. Industrial Alliance Securities cut shares of Pine Cliff Energy from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. CIBC dropped their price target on shares of Pine Cliff Energy from C$0.50 to C$0.40 in a research report on Tuesday, January 23rd. Finally, Clarus Securities reiterated a “buy” rating on shares of Pine Cliff Energy in a research report on Tuesday, October 24th.

Pine Cliff Energy (TSE PNE) remained flat at $C$0.30 during mid-day trading on Wednesday. The stock had a trading volume of 366,800 shares, compared to its average volume of 1,608,846. The firm has a market cap of $96.73, a price-to-earnings ratio of -3.10 and a beta of 0.23. Pine Cliff Energy has a 12 month low of C$0.29 and a 12 month high of C$0.87.

In other Pine Cliff Energy news, insider Robert Disbrow sold 1,008,818 shares of the business’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of C$0.47, for a total value of C$474,144.46. Over the last quarter, insiders acquired 662,500 shares of company stock worth $235,275.

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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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