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

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

PNE has been the subject of several other reports. Canaccord Genuity Group reduced their target price on 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 reduced their target price on 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 Stock Up 3.1 %

PNE opened at C$1.00 on Tuesday. The business has a 50 day moving average price of C$1.05 and a 200 day moving average price of C$1.29. Pine Cliff Energy has a twelve month low of C$0.94 and a twelve month high of C$1.68. The company has a debt-to-equity ratio of 62.18, a quick ratio of 1.48 and a current ratio of 0.48. The firm has a market cap of C$356.30 million, a P/E ratio of 33.33 and a beta of 0.52.

Pine Cliff Energy Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be given a $0.005 dividend. This represents a $0.06 annualized dividend and a yield of 6.00%. The ex-dividend date is Friday, April 12th. Pine Cliff Energy’s dividend payout ratio is currently 200.00%.

Insiders Place Their Bets

In other Pine Cliff Energy news, Director Philip Blake Hodge purchased 25,000 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were bought at an average cost of C$1.02 per share, with a total value of C$25,402.50. Insiders have acquired a total of 33,900 shares of company stock valued at $37,525 in the last three months. Company insiders own 20.42% of the company’s stock.

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.