Pine Cliff Energy Ltd. (TSE:PNE – Get Free Report)’s stock price passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$1.09 and traded as low as C$0.97. Pine Cliff Energy shares last traded at C$1.02, with a volume of 754,673 shares.
Analyst Upgrades and Downgrades
PNE has been the topic of several research reports. Stifel Nicolaus reduced their price target on Pine Cliff Energy from C$1.50 to C$1.40 and set a “hold” rating on the stock in a report on Wednesday, March 6th. Canaccord Genuity Group reduced their target price on Pine Cliff Energy from C$1.55 to C$1.40 in a report on Tuesday, March 5th. Finally, Desjardins reduced their target price on Pine Cliff Energy from C$1.50 to C$1.25 and set a “buy” rating on the stock in a report on Friday, March 22nd.
Read Our Latest Stock Report on Pine Cliff Energy
Pine Cliff Energy Price Performance
Pine Cliff Energy Announces Dividend
The firm also recently declared a monthly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be issued a dividend of $0.005 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 5.88%. The ex-dividend date of this dividend is Friday, April 12th. Pine Cliff Energy’s payout ratio is 200.00%.
Insiders Place Their Bets
In other Pine Cliff Energy news, Director Philip Blake Hodge purchased 25,000 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were purchased 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 have acquired 33,900 shares of company stock worth $37,525. Corporate insiders own 20.42% of the company’s stock.
Pine Cliff Energy Company Profile
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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