Pine Cliff Energy (TSE:PNE – Free Report) had its target price reduced by Canaccord Genuity Group from C$1.40 to C$1.20 in a report published on Wednesday morning, BayStreet.CA reports. They currently have a buy rating on the stock.
PNE has been the topic of a number of other reports. Stifel Nicolaus decreased their target price on Pine Cliff Energy from C$1.50 to C$1.40 and set a hold rating on the stock in a research report on Wednesday, March 6th. Desjardins decreased 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 report on Friday, March 22nd.
Read Our Latest Stock Report on Pine Cliff Energy
Pine Cliff Energy Stock Down 1.0 %
Pine Cliff Energy Announces Dividend
The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be given a $0.005 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $0.06 annualized dividend and a dividend yield of 6.06%. Pine Cliff Energy’s dividend payout ratio is currently 200.00%.
Insider Activity
In related news, Director Philip Blake Hodge acquired 25,000 shares of Pine Cliff Energy stock in a transaction dated Thursday, March 7th. The shares were acquired at an average cost of C$1.02 per share, for a total transaction of C$25,402.50. Insiders have purchased 33,900 shares of company stock worth $37,525 over the last three months. 20.42% of the stock is currently owned by corporate insiders.
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.
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