Pine Cliff Energy (TSE:PNE) Price Target Cut to C$1.20 by Analysts at Desjardins

Pine Cliff Energy (TSE:PNE) 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.

Pine Cliff Energy Stock Down 3.0 %

Shares of TSE:PNE opened at C$0.97 on Tuesday. Pine Cliff Energy has a 52 week low of C$0.94 and a 52 week high of C$1.68. The company has a debt-to-equity ratio of 62.18, a quick ratio of 1.48 and a current ratio of 0.48. The company has a market capitalization of C$345.61 million, a PE ratio of 32.67 and a beta of 0.52. The company has a 50 day moving average price of C$1.04 and a two-hundred day moving average price of C$1.29.

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.