Desjardins Cuts Pine Cliff Energy (TSE:PNE) Price Target to C$0.95

Pine Cliff Energy (TSE:PNE) had its price objective reduced by Desjardins from C$1.10 to C$0.95 in a research note published on Wednesday,BayStreet.CA reports. They currently have an outperform rating on the stock.

Pine Cliff Energy Stock Performance

TSE:PNE opened at C$0.76 on Wednesday. Pine Cliff Energy has a fifty-two week low of C$0.74 and a fifty-two week high of C$1.14. The company has a debt-to-equity ratio of 76.74, a current ratio of 0.47 and a quick ratio of 1.48. The stock has a market capitalization of C$275.26 million, a PE ratio of -18.35 and a beta of 0.37. The business’s 50-day simple moving average is C$0.85 and its 200-day simple moving average is C$0.89.

Pine Cliff Energy Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 31st will be issued a $0.005 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 7.89%. The ex-dividend date of this dividend is Friday, March 14th. Pine Cliff Energy’s dividend payout ratio is -144.83%.

Insider Buying and Selling at Pine Cliff Energy

In other Pine Cliff Energy news, Director Robert Brent Fryk acquired 68,500 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The stock was acquired at an average cost of C$0.80 per share, for a total transaction of C$54,731.50. Insiders own 10.97% 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.