Desjardins lowered shares of Pine Cliff Energy (TSE:PNE - Free Report) from a moderate buy rating to a hold rating in a research report released on Tuesday,Zacks.com reports.
Pine Cliff Energy Price Performance
PNE traded down C$0.01 on Tuesday, reaching C$0.75. The stock had a trading volume of 90,096 shares, compared to its average volume of 168,837. The firm has a 50-day moving average of C$0.84 and a 200-day moving average of C$0.89. Pine Cliff Energy has a fifty-two week low of C$0.74 and a fifty-two week high of C$1.14. The company has a market capitalization of C$271.64 million, a price-to-earnings ratio of -18.10 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.
Pine Cliff Energy Dividend Announcement
The business also recently announced a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 31st will be given a dividend of $0.005 per share. This represents a $0.06 annualized dividend and a yield of 8.00%. The ex-dividend date is Friday, March 14th. Pine Cliff Energy's dividend payout ratio is currently -144.83%.
Insider Activity
In other news, Director Robert Brent Fryk bought 68,500 shares of the stock in a transaction that occurred on Tuesday, December 24th. The stock was acquired at an average price of C$0.80 per share, with a total value of C$54,731.50. Insiders own 10.97% of the company's stock.
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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