Pine Cliff Energy (TSE:PNE) Given New C$1.20 Price Target at Canaccord Genuity Group

Pine Cliff Energy (TSE:PNE) had its price objective reduced by Canaccord Genuity Group from C$1.40 to C$1.20 in a research note published on Wednesday, BayStreet.CA reports. They currently have a buy rating on the stock.

Other equities analysts have also recently issued research reports about the company. Stifel Nicolaus cut their price objective on Pine Cliff Energy from C$1.50 to C$1.40 and set a hold rating on the stock in a report on Wednesday, March 6th. Desjardins cut their target price on Pine Cliff Energy from C$1.50 to C$1.25 and set a buy rating on the stock in a research note on Friday, March 22nd.

Pine Cliff Energy Stock Performance

TSE:PNE opened at C$0.98 on Wednesday. Pine Cliff Energy has a fifty-two week low of C$0.94 and a fifty-two week high of C$1.68. The company has a debt-to-equity ratio of 62.18, a current ratio of 0.48 and a quick ratio of 1.48. The stock has a market capitalization of C$349.17 million, a PE ratio of 32.67 and a beta of 0.52. The business’s 50-day simple moving average is C$1.06 and its 200-day simple moving average is C$1.30.

Pine Cliff Energy Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be paid a $0.005 dividend. This represents a $0.06 annualized dividend and a yield of 6.12%. The ex-dividend date is Friday, April 12th. Pine Cliff Energy’s payout ratio is 200.00%.

Insider Buying and Selling at Pine Cliff Energy

In other news, Director Philip Blake Hodge bought 25,000 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were purchased at an average price of C$1.02 per share, for a total transaction of C$25,402.50. In the last quarter, insiders have bought 33,900 shares of company stock worth $37,525. Corporate insiders own 20.42% of the company’s stock.

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.