Pine Cliff Energy (TSE:PNE) Price Target Cut to C$1.20 by Analysts at Desjardins

Pine Cliff Energy (TSE:PNE) had its target price cut by Desjardins from C$1.25 to C$1.20 in a report issued on Tuesday, BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Desjardins’ price objective points to a potential upside of 21.21% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. Canaccord Genuity Group cut their price target on Pine Cliff Energy from C$1.40 to C$1.20 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. Stifel Nicolaus cut their price target on Pine Cliff Energy from C$1.50 to C$1.40 and set a “hold” rating on the stock in a research note on Wednesday, March 6th.

Pine Cliff Energy Trading Up 2.1 %

Shares of PNE traded up C$0.02 during trading hours on Tuesday, hitting C$0.99. 37,140 shares of the stock traded hands, compared to its average volume of 338,866. The company has a current ratio of 0.48, a quick ratio of 1.48 and a debt-to-equity ratio of 62.18. Pine Cliff Energy has a 1-year low of C$0.94 and a 1-year high of C$1.68. The firm has a market capitalization of C$352.74 million, a PE ratio of 33.00 and a beta of 0.52. The business has a fifty day moving average of C$1.05 and a 200-day moving average of C$1.29.

Insider Buying and Selling

In other news, Director Philip Blake Hodge bought 25,000 shares of the stock in a transaction on Thursday, March 7th. The stock was purchased at an average price of C$1.02 per share, with a total value of C$25,402.50. Insiders have bought 33,900 shares of company stock valued at $37,525 in the last 90 days. 20.42% 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.