Pine Cliff Energy (TSE:PNE) Given New C$1.20 Price Target at Canaccord Genuity Group

Pine Cliff Energy (TSE:PNE) had its price objective decreased by Canaccord Genuity Group from C$1.40 to C$1.20 in a research note issued to investors on Wednesday, BayStreet.CA reports. Canaccord Genuity Group currently has a buy rating on the stock.

PNE has been the subject of a number of other research reports. Desjardins reduced their price objective on Pine Cliff Energy from C$1.50 to C$1.25 and set a buy rating for the company in a research note on Friday, March 22nd. Stifel Nicolaus reduced their price objective on Pine Cliff Energy from C$1.50 to C$1.40 and set a hold rating for the company in a research note on Wednesday, March 6th.

Pine Cliff Energy Stock Performance

TSE PNE opened at C$0.98 on Wednesday. The business has a 50 day simple moving average of C$1.06 and a 200 day simple moving average of C$1.30. Pine Cliff Energy has a one year low of C$0.94 and a one year high of C$1.68. The stock has a market capitalization of C$349.17 million, a P/E ratio of 32.67 and a beta of 0.52. The company has a debt-to-equity ratio of 62.18, a current ratio of 0.48 and a quick ratio of 1.48.

Pine Cliff Energy Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be paid a $0.005 dividend. The ex-dividend date is Friday, April 12th. This represents a $0.06 dividend on an annualized basis and a yield of 6.12%. Pine Cliff Energy’s dividend payout ratio (DPR) is presently 200.00%.

Insider Activity

In related news, Director Philip Blake Hodge bought 25,000 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were bought at an average price 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 90 days. 20.42% of the stock is currently owned by corporate insiders.

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.