Pine Cliff Energy Ltd. (PNE) To Go Ex-Dividend on May 14th

Pine Cliff Energy Ltd. (TSE:PNE) declared a monthly dividend on Wednesday, May 1st, Zacks reports. Shareholders of record on Wednesday, May 15th will be paid a dividend of 0.005 per share on Friday, May 31st. This represents a $0.06 dividend on an annualized basis and a dividend yield of 6.06%. The ex-dividend date of this dividend is Tuesday, May 14th.

Pine Cliff Energy Stock Performance

TSE:PNE remained flat at C$0.99 during trading hours on Friday. 363,411 shares of the company’s stock traded hands, compared to its average volume of 332,223. Pine Cliff Energy has a 52 week low of C$0.94 and a 52 week high of C$1.68. The company has a current ratio of 0.48, a quick ratio of 1.48 and a debt-to-equity ratio of 62.18. The firm has a market capitalization of C$352.84 million, a price-to-earnings ratio of 33.00 and a beta of 0.49. The business’s fifty day simple moving average is C$1.01 and its 200 day simple moving average is C$1.27.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PNE. Canaccord Genuity Group lowered their price objective on shares of Pine Cliff Energy from C$1.40 to C$1.20 and set a “buy” rating for the company in a research report on Wednesday, April 17th. Stifel Nicolaus decreased their price objective on shares of Pine Cliff Energy from C$1.50 to C$1.40 and set a “hold” rating for the company in a report on Wednesday, March 6th. Finally, Desjardins decreased their target price on shares of Pine Cliff Energy from C$1.25 to C$1.20 and set a “buy” rating on the stock in a research note on Tuesday, April 23rd.

Insider Transactions at Pine Cliff Energy

In other news, Director Philip Blake Hodge bought 25,000 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was purchased at an average price of C$1.02 per share, for a total transaction of C$25,402.50. Corporate insiders own 10.84% of the company’s stock.

About Pine Cliff Energy

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.