Pine Cliff Energy (PNE) Price Target Cut to C$0.30

Pine Cliff Energy (TSE:PNE) had its price objective cut by equities research analysts at National Bank Financial from C$0.50 to C$0.30 in a research note issued on Wednesday. The firm presently has a “sector perform” rating on the stock. National Bank Financial’s price objective would suggest a potential upside of 11.11% from the stock’s previous close.

Several other equities analysts have also commented on PNE. Desjardins dropped their price target on shares of Pine Cliff Energy from C$0.50 to C$0.40 in a research report on Wednesday, February 14th. CIBC decreased their price objective on shares of Pine Cliff Energy from C$0.50 to C$0.40 in a research note on Tuesday, January 23rd.

Shares of Pine Cliff Energy (TSE PNE) remained flat at $C$0.27 during mid-day trading on Wednesday. The company had a trading volume of 330,300 shares, compared to its average volume of 1,078,883. Pine Cliff Energy has a 52 week low of C$0.26 and a 52 week high of C$0.86. The stock has a market cap of $85.98, a price-to-earnings ratio of -2.70 and a beta of 0.32.

In other news, insider Robert Disbrow bought 150,000 shares of the firm’s stock in a transaction dated Tuesday, March 13th. The stock was acquired at an average cost of C$0.27 per share, for a total transaction of C$40,500.00. Insiders bought 854,000 shares of company stock valued at $287,795 over the last 90 days.

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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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