Pine Cliff Energy (TSE:PNE) Raised to “Buy” at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Pine Cliff Energy (TSE:PNE) from a hold rating to a buy rating in a research report sent to investors on Thursday morning, Marketbeat.com reports. They currently have C$0.90 price target on the stock.

Separately, Desjardins decreased their price target on Pine Cliff Energy from C$1.10 to C$0.95 and set an “outperform” rating on the stock in a research note on Wednesday, March 19th.

Pine Cliff Energy Stock Performance

TSE PNE opened at C$0.61 on Thursday. Pine Cliff Energy has a 1 year low of C$0.60 and a 1 year high of C$1.14. The firm has a market capitalization of C$220.94 million, a price-to-earnings ratio of -14.72 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. The firm’s 50 day simple moving average is C$0.80 and its 200 day simple moving average is C$0.88.

Pine Cliff Energy Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 30th will be given a dividend of $0.0013 per share. This represents a $0.02 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend is Tuesday, April 15th. Pine Cliff Energy’s dividend payout ratio is -144.83%.

Pine Cliff Energy Company Profile

Pine Cliff Energy Ltd is a Canadian natural gas focused, exploration and production company. It is mainly engaged in the exploration, development, and production of natural gas, crude oil, and natural gas liquids. The company owns a Western Canadian Sedimentary Basin, Ghost Pine/Three Hills and Camrose/Viking areas of Central Alberta, several gas assets in Southeast Alberta and Southwest Saskatchewan, non-operated properties in the Sundance, Harmattan, and Garrington areas of Alberta and others.