Pine Cliff Energy (TSE:PNE) PT Lowered to C$0.15

Pine Cliff Energy (TSE:PNE) had its target price decreased by research analysts at GMP Securities from C$0.20 to C$0.15 in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. GMP Securities’ target price indicates a potential upside of 15.38% from the stock’s previous close.

PNE has been the subject of several other reports. CIBC decreased their target price on shares of Pine Cliff Energy from C$0.50 to C$0.25 in a research note on Thursday, July 18th. TD Securities decreased their target price on shares of Pine Cliff Energy from C$0.30 to C$0.25 and set a “hold” rating for the company in a research note on Friday, May 10th. National Bank Financial set a C$0.30 target price on shares of Pine Cliff Energy and gave the company a “sector perform” rating in a research note on Friday, May 10th. Finally, Canaccord Genuity decreased their target price on shares of Pine Cliff Energy from C$0.50 to C$0.30 in a research note on Tuesday, July 9th.

Shares of PNE stock traded down C$0.01 during trading hours on Wednesday, hitting C$0.13. The company’s stock had a trading volume of 68,500 shares, compared to its average volume of 131,773. The stock has a 50 day simple moving average of C$0.17. The stock has a market cap of $42.61 million and a PE ratio of -0.60. The company has a debt-to-equity ratio of 116.57, a quick ratio of 1.07 and a current ratio of 1.29. Pine Cliff Energy has a 12-month low of C$0.12 and a 12-month high of C$0.40.

Pine Cliff Energy (TSE:PNE) last posted its earnings results on Wednesday, May 8th. The company reported C($0.02) earnings per share (EPS) for the quarter, meeting the consensus estimate of C($0.02). The firm had revenue of C$32.06 million during the quarter, compared to analyst estimates of C$28.40 million. Research analysts expect that Pine Cliff Energy will post -0.082963 EPS for the current year.

In other news, insider Robert Disbrow bought 450,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was purchased at an average cost of C$0.18 per share, for a total transaction of C$81,000.00. Following the purchase, the insider now directly owns 19,162,083 shares in the company, valued at approximately C$3,449,174.94. Over the last quarter, insiders purchased 520,000 shares of company stock valued at $93,600.

About Pine Cliff Energy

Pine Cliff Energy Ltd. engages in the acquisition, exploration, development, and production of natural gas, crude oil, and natural gas liquids in the Western Canadian Sedimentary Basin. The company primarily holds interests in natural gas assets in the Southern and Edson areas; and oil and natural gas assets in the Viking Kinsella and Ghost Pine area of Central Alberta.

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