Pine Cliff Energy (TSE:PNE - Free Report) had its price objective cut by Desjardins from C$1.10 to C$0.95 in a research note published on Wednesday morning,BayStreet.CA reports. They currently have an outperform rating on the stock.
Pine Cliff Energy Stock Performance
Shares of TSE:PNE remained flat at C$0.76 during midday trading on Wednesday. The stock had a trading volume of 140,122 shares, compared to its average volume of 170,243. The company has a 50-day simple moving average of C$0.85 and a two-hundred day simple moving average of C$0.89. Pine Cliff Energy has a 52-week low of C$0.74 and a 52-week high of C$1.14. The stock has a market cap of C$275.26 million, a P/E ratio of -18.35 and a beta of 0.37. The company has a debt-to-equity ratio of 76.74, a quick ratio of 1.48 and a current ratio of 0.47.
Pine Cliff Energy Announces Dividend
The business also recently declared a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 31st will be paid 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 presently -144.83%.
Insider Buying and Selling
In other news, Director Robert Brent Fryk acquired 68,500 shares of the firm's stock in a transaction on Tuesday, December 24th. The shares were bought at an average price of C$0.80 per share, for a total transaction of C$54,731.50. 10.97% of the stock is currently owned by insiders.
About Pine Cliff Energy
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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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