Canaccord Genuity Group Cuts Pine Cliff Energy (TSE:PNE) Price Target to C$1.20

Pine Cliff Energy (TSE:PNE) had its target price reduced by Canaccord Genuity Group from C$1.40 to C$1.20 in a report published on Wednesday morning, BayStreet.CA reports. They currently have a buy rating on the stock.

PNE has been the topic of a number of other reports. Stifel Nicolaus decreased their target price on Pine Cliff Energy from C$1.50 to C$1.40 and set a hold rating on the stock in a research report on Wednesday, March 6th. Desjardins decreased their target price on Pine Cliff Energy from C$1.50 to C$1.25 and set a buy rating on the stock in a research report on Friday, March 22nd.

Pine Cliff Energy Stock Down 1.0 %

PNE opened at C$0.99 on Wednesday. The business’s fifty day moving average is C$1.05 and its two-hundred day moving average is C$1.30. The company has a debt-to-equity ratio of 62.18, a quick ratio of 1.48 and a current ratio of 0.48. 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. Pine Cliff Energy has a one year low of C$0.94 and a one year high of C$1.68.

Pine Cliff Energy Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 30th. Stockholders 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 annualized dividend and a dividend yield of 6.06%. Pine Cliff Energy’s dividend payout ratio is currently 200.00%.

Insider Activity

In related news, Director Philip Blake Hodge acquired 25,000 shares of Pine Cliff Energy stock in a transaction dated Thursday, March 7th. The shares were acquired at an average cost of C$1.02 per share, for a total transaction of C$25,402.50. Insiders have purchased 33,900 shares of company stock worth $37,525 over the last three months. 20.42% of the stock is currently owned by corporate 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.