Pine Cliff Energy (TSE:PNE) Given New C$0.95 Price Target at Desjardins

Pine Cliff Energy (TSE:PNE) had its target price lowered by stock analysts at Desjardins from C$1.10 to C$0.95 in a report released on Wednesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Desjardins’ price objective points to a potential upside of 25.00% from the stock’s previous close.

Pine Cliff Energy Price Performance

TSE PNE opened at C$0.76 on Wednesday. The stock has a market cap of C$275.26 million, a PE ratio of -18.35 and a beta of 0.37. Pine Cliff Energy has a fifty-two week low of C$0.74 and a fifty-two week high of C$1.14. The business has a 50 day moving average price of C$0.85 and a two-hundred day moving average price of C$0.89. The company has a quick ratio of 1.48, a current ratio of 0.47 and a debt-to-equity ratio of 76.74.

Insider Buying and Selling at Pine Cliff Energy

In other news, Director Robert Brent Fryk purchased 68,500 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The shares were acquired at an average cost of C$0.80 per share, with a total value of C$54,731.50. 10.97% 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.