Pine Cliff Energy (TSE:PNE) Stock Passes Below Fifty Day Moving Average – Here’s Why

Pine Cliff Energy Ltd. (TSE:PNE) crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$0.89 and traded as low as C$0.80. Pine Cliff Energy shares last traded at C$0.80, with a volume of 98,600 shares changing hands.

Pine Cliff Energy Price Performance

The company has a market capitalization of C$289.75 million, a price-to-earnings ratio of -19.31 and a beta of 0.37. The business’s 50-day moving average is C$0.89 and its 200-day moving average is C$0.91. The company has a quick ratio of 1.48, a current ratio of 0.47 and a debt-to-equity ratio of 76.74.

Pine Cliff Energy Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 28th will be given a dividend of $0.005 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.06 dividend on an annualized basis and a yield of 7.50%. Pine Cliff Energy’s dividend payout ratio is presently -144.83%.

Insider Activity at Pine Cliff Energy

In other news, Director Robert Brent Fryk acquired 68,500 shares of the firm’s stock in a transaction on Tuesday, December 24th. The stock was acquired at an average price of C$0.80 per share, for a total transaction of C$54,731.50. Insiders acquired 93,500 shares of company stock worth $74,832 over the last three months. Company 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.