Pine Cliff Energy (TSE:PNE) Sets New 1-Year Low – Should You Sell?

Shares of Pine Cliff Energy Ltd. (TSE:PNE) reached a new 52-week low during trading on Thursday . The stock traded as low as C$0.66 and last traded at C$0.68, with a volume of 531384 shares changing hands. The stock had previously closed at C$0.72.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Desjardins decreased their price target on shares of Pine Cliff Energy from C$1.10 to C$0.95 and set an “outperform” rating for the company in a research note on Wednesday, March 19th. Canaccord Genuity Group raised Pine Cliff Energy from a “hold” rating to a “buy” rating and set a C$0.90 price target on the stock in a report on Thursday.

Pine Cliff Energy Stock Down 6.9 %

The company has a market capitalization of C$242.67 million, a price-to-earnings ratio of -16.17 and a beta of 0.37. The company has a current ratio of 0.47, a quick ratio of 1.48 and a debt-to-equity ratio of 76.74. The firm’s 50 day simple moving average is C$0.81 and its 200-day simple moving average is C$0.88.

Pine Cliff Energy Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 30th will be given a $0.0013 dividend. This represents a $0.02 annualized dividend and a yield of 2.33%. The ex-dividend date is Tuesday, April 15th. Pine Cliff Energy’s payout ratio is -144.83%.

Pine Cliff Energy Company Profile

Pine Cliff Energy Ltd is a Canadian natural gas focused, exploration and production company. It is mainly engaged in the exploration, development, and production of natural gas, crude oil, and natural gas liquids. The company owns a Western Canadian Sedimentary Basin, Ghost Pine/Three Hills and Camrose/Viking areas of Central Alberta, several gas assets in Southeast Alberta and Southwest Saskatchewan, non-operated properties in the Sundance, Harmattan, and Garrington areas of Alberta and others.