Pine Cliff Energy (TSE:PNE) Share Price Passes Below 50-Day Moving Average of $1.79

Shares of Pine Cliff Energy Ltd. (TSE:PNEGet Rating) crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$1.79 and traded as low as C$1.77. Pine Cliff Energy shares last traded at C$1.78, with a volume of 847,521 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Haywood Securities lowered their target price on shares of Pine Cliff Energy from C$2.60 to C$2.40 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. Stifel Nicolaus upgraded shares of Pine Cliff Energy to a “buy” rating and boosted their target price for the stock from C$2.25 to C$2.30 in a research note on Thursday, June 30th.

Pine Cliff Energy Stock Down 1.7 %

The company has a debt-to-equity ratio of 3.37, a current ratio of 1.44 and a quick ratio of 1.30. The company has a market cap of C$621.11 million and a price-to-earnings ratio of 4.34. The firm’s 50 day simple moving average is C$1.79 and its 200-day simple moving average is C$1.62.

Pine Cliff Energy (TSE:PNEGet Rating) last released its quarterly earnings data on Wednesday, August 3rd. The company reported C$0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.09 by C$0.04. The company had revenue of C$82.76 million during the quarter. As a group, sell-side analysts anticipate that Pine Cliff Energy Ltd. will post -0.04 earnings per share for the current year.

Pine Cliff Energy Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 30th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $0.12 annualized dividend and a yield of 6.74%. Pine Cliff Energy’s dividend payout ratio is presently 4.05%.

Insider Buying and Selling at Pine Cliff Energy

In other news, Director William Sanford Rice sold 25,000 shares of the stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of C$1.90, for a total transaction of C$47,500.00. Following the completion of the sale, the director now owns 1,029,320 shares in the company, valued at C$1,955,708. In other news, Director Philip Blake Hodge purchased 20,000 shares of the business’s stock in a transaction that occurred on Thursday, July 14th. The stock was purchased at an average cost of C$1.44 per share, with a total value of C$28,772.00. Following the completion of the acquisition, the director now directly owns 9,069,500 shares of the company’s stock, valued at approximately C$13,047,382.70. Also, Director William Sanford Rice sold 25,000 shares of Pine Cliff Energy stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of C$1.90, for a total value of C$47,500.00. Following the completion of the sale, the director now directly owns 1,029,320 shares in the company, valued at approximately C$1,955,708. Insiders purchased 38,000 shares of company stock worth $60,992 over the last 90 days.

Pine Cliff Energy Company Profile

(Get Rating)

Pine Cliff Energy Ltd. engages in the acquisition, exploration, development, and production of natural gas and oil in the Western Canadian Sedimentary Basin. It 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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