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

Pine Cliff Energy (TSE:PNE) had its price target decreased by Desjardins from C$1.25 to C$1.20 in a report published on Tuesday, BayStreet.CA reports. Desjardins currently has a buy rating on the stock.

Several other research firms also recently commented on PNE. Canaccord Genuity Group cut their price objective on shares of Pine Cliff Energy from C$1.40 to C$1.20 and set a buy rating for the company in a report on Wednesday, April 17th. Stifel Nicolaus cut their price objective on shares of Pine Cliff Energy from C$1.50 to C$1.40 and set a hold rating for the company in a report on Wednesday, March 6th.

Pine Cliff Energy Price Performance

PNE opened at C$0.99 on Tuesday. The company has a 50 day moving average of C$1.03 and a 200 day moving average of C$1.28. The company has a market cap of C$352.74 million, a PE ratio of 33.00 and a beta of 0.52. Pine Cliff Energy has a 12 month low of C$0.94 and a 12 month high of C$1.68. The company has a current ratio of 0.48, a quick ratio of 1.48 and a debt-to-equity ratio of 62.18.

Pine Cliff Energy Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be issued a $0.005 dividend. This represents a $0.06 annualized dividend and a yield of 6.06%. 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 purchased 25,000 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was purchased at an average cost of C$1.02 per share, with a total value of C$25,402.50. Insiders own 20.42% of the company’s stock.

About Pine Cliff Energy

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.