Pine Cliff Energy (TSE:PNE) Price Target Cut to C$0.95 by Analysts at Desjardins

Pine Cliff Energy (TSE:PNE) had its target price decreased by Desjardins from C$1.10 to C$0.95 in a report released on Wednesday morning,BayStreet.CA reports. Desjardins currently has an outperform rating on the stock.

Pine Cliff Energy Price Performance

Shares of TSE:PNE opened at C$0.76 on Wednesday. Pine Cliff Energy has a twelve month low of C$0.74 and a twelve month high of C$1.14. The company has a current ratio of 0.47, a quick ratio of 1.48 and a debt-to-equity ratio of 76.74. The company has a market cap of C$275.26 million, a PE ratio of -18.35 and a beta of 0.37. The company’s 50 day moving average is C$0.85 and its 200 day moving average is C$0.89.

Pine Cliff Energy Dividend Announcement

The firm 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. The ex-dividend date is Friday, March 14th. This represents a $0.06 dividend on an annualized basis and a yield of 7.89%. Pine Cliff Energy’s dividend payout ratio is presently -144.83%.

Insiders Place Their Bets

In related news, Director Robert Brent Fryk acquired 68,500 shares of the stock in a transaction on Tuesday, December 24th. The shares were acquired 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 owned by insiders.

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.