Pine Cliff Energy (TSE:PNE – Get Free Report) had its price target cut by equities researchers at Desjardins from C$1.25 to C$1.20 in a note issued to investors on Tuesday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Desjardins’ price target points to a potential upside of 23.71% from the company’s previous close.
Several other equities research analysts also recently commented on PNE. Canaccord Genuity Group lowered their target price on shares of 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 lowered their target price on shares of 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.
View Our Latest Analysis on PNE
Pine Cliff Energy Stock Down 3.0 %
Insider Transactions at Pine Cliff Energy
In related news, Director Philip Blake Hodge acquired 25,000 shares of the stock in a transaction dated Thursday, March 7th. The stock was bought at an average price of C$1.02 per share, with a total value of C$25,402.50. Insiders purchased 33,900 shares of company stock valued at $37,525 over the last quarter. Corporate insiders own 20.42% of the company’s stock.
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.
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