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

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

Several other analysts also recently weighed in on the company. Stifel Nicolaus decreased 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 research note on Wednesday, March 6th. Canaccord Genuity Group decreased 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 research note on Wednesday, April 17th.

Pine Cliff Energy Price Performance

Shares of TSE:PNE opened at C$0.99 on Tuesday. The business has a 50 day moving average price of C$1.03 and a 200 day moving average price of C$1.28. 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 market cap of C$352.74 million, a price-to-earnings ratio of 33.00 and a beta of 0.52. The company has a quick ratio of 1.48, a current ratio of 0.48 and a debt-to-equity ratio of 62.18.

Pine Cliff Energy Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, April 12th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 6.06%. Pine Cliff Energy’s dividend payout ratio is currently 200.00%.

Insiders Place Their Bets

In other news, Director Philip Blake Hodge acquired 25,000 shares of Pine Cliff Energy stock in a transaction on Thursday, March 7th. The stock was bought at an average price of C$1.02 per share, for a total transaction of C$25,402.50. Corporate 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.