Pine Cliff Energy (TSE:PNE) had its price target reduced by Canaccord Genuity from C$0.50 to C$0.30 in a research report report published on Tuesday, BayStreet.CA reports.
Several other research firms have also recently weighed in on PNE. National Bank Financial boosted their price objective on shares of Yamana Gold from C$3.75 to C$4.00 and gave the stock a sector perform rating in a research report on Friday, May 10th. TD Securities dropped their price objective on shares of Total Energy Services from C$11.50 to C$10.00 and set a hold rating for the company in a research report on Friday, May 10th. Finally, GMP Securities restated a buy rating and issued a $22.25 price objective on shares of SPDR Wells Fargo Preferred Stock ETF in a research report on Friday, June 28th.
TSE:PNE opened at C$0.17 on Tuesday. Pine Cliff Energy has a 1 year low of C$0.16 and a 1 year high of C$0.45. The firm has a 50 day moving average price of C$0.18. The company has a quick ratio of 1.07, a current ratio of 1.29 and a debt-to-equity ratio of 116.57. The company has a market capitalization of $59.00 million and a PE ratio of -0.81.
In related news, insider Robert Disbrow acquired 450,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was purchased at an average price of C$0.18 per share, for a total transaction of C$81,000.00. Following the transaction, the insider now directly owns 19,162,083 shares of the company’s stock, valued at approximately C$3,449,174.94. Insiders purchased a total of 538,500 shares of company stock valued at $98,030 in the last 90 days.
About Pine Cliff Energy
Pine Cliff Energy Ltd. engages in the acquisition, exploration, development, and production of natural gas, crude oil, and natural gas liquids in the Western Canadian Sedimentary Basin. The company primarily holds interests in natural gas assets in the Southern and Edson areas; and oil and natural gas assets in the Viking Kinsella and Ghost Pine area of Central Alberta.
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