Pine Cliff Energy Ltd. (TSE:PNE) Declares Monthly Dividend of $0.01

Pine Cliff Energy Ltd. (TSE:PNE) declared a monthly dividend on Wednesday, September 4th, Zacks reports. Shareholders of record on Monday, September 16th will be given a dividend of 0.005 per share on Friday, September 27th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 6.59%. The ex-dividend date is Monday, September 16th.

Pine Cliff Energy Trading Down 2.2 %

PNE opened at C$0.91 on Friday. The company has a market cap of C$325.69 million, a P/E ratio of -91.00 and a beta of 0.37. The company has a fifty day moving average price of C$0.94 and a two-hundred day moving average price of C$1.00. The company has a current ratio of 0.50, a quick ratio of 1.48 and a debt-to-equity ratio of 81.31. Pine Cliff Energy has a 1-year low of C$0.85 and a 1-year high of C$1.68.

Pine Cliff Energy (TSE:PNE) last announced its quarterly earnings results on Thursday, August 8th. The company reported C($0.01) earnings per share (EPS) for the quarter. Pine Cliff Energy had a negative return on equity of 4.03% and a negative net margin of 2.14%. The firm had revenue of C$46.61 million during the quarter. Analysts predict that Pine Cliff Energy will post 0.0099907 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on PNE shares. Canaccord Genuity Group downgraded shares of Pine Cliff Energy from a “buy” rating to a “hold” rating and lowered their target price for the company from C$1.20 to C$1.10 in a report on Wednesday, June 5th. Stifel Nicolaus decreased their price objective on shares of Pine Cliff Energy from C$1.20 to C$1.10 in a research note on Thursday, May 9th.

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.