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

Pine Cliff Energy (TSE:PNE) had its target price decreased by Desjardins from C$1.25 to C$1.20 in a research note released on Tuesday morning, BayStreet.CA reports. Desjardins currently has a buy rating on the stock.

Other research analysts also recently issued reports about the company. Canaccord Genuity Group reduced their target price on Pine Cliff Energy from C$1.40 to C$1.20 and set a buy rating for the company in a research note on Wednesday, April 17th. Stifel Nicolaus reduced their target price 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 Up 3.1 %

PNE stock opened at C$1.00 on Tuesday. The company has a quick ratio of 1.48, a current ratio of 0.48 and a debt-to-equity ratio of 62.18. The business has a 50 day moving average price of C$1.05 and a two-hundred day moving average price of C$1.29. The company has a market cap of C$356.30 million, a price-to-earnings ratio of 33.33 and a beta of 0.52. Pine Cliff Energy has a twelve month low of C$0.94 and a twelve month high of C$1.68.

Pine Cliff Energy Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be paid a dividend of $0.005 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $0.06 annualized dividend and a dividend yield of 6.00%. Pine Cliff Energy’s dividend payout ratio is currently 200.00%.

Insider Transactions at Pine Cliff Energy

In other Pine Cliff Energy news, Director Philip Blake Hodge bought 25,000 shares of Pine Cliff Energy stock in a transaction dated Thursday, March 7th. The stock was bought at an average cost of C$1.02 per share, for a total transaction of C$25,402.50. In the last three months, insiders acquired 33,900 shares of company stock worth $37,525. 20.42% of the stock is owned by company 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.