Pine Cliff Energy (TSE:PNE) Hits New 12-Month Low – Here’s What Happened

by · The Markets Daily

Pine Cliff Energy Ltd. (TSE:PNE – Get Free Report) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as C$0.51 and last traded at C$0.55, with a volume of 205431 shares traded. The stock had previously closed at C$0.55.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PNE. Canaccord Genuity Group raised Pine Cliff Energy from a “hold” rating to a “buy” rating and set a C$0.90 target price on the stock in a research report on Thursday, April 3rd. Desjardins dropped their price target on Pine Cliff Energy from C$1.10 to C$0.95 and set an “outperform” rating on the stock in a research note on Wednesday, March 19th.

Check Out Our Latest Research Report on Pine Cliff Energy

Pine Cliff Energy Stock Up 1.7 %

The company has a debt-to-equity ratio of 76.74, a quick ratio of 1.48 and a current ratio of 0.47. The stock has a market cap of C$213.69 million, a price-to-earnings ratio of -14.24 and a beta of 0.37. The business’s 50 day moving average is C$0.76 and its 200 day moving average is C$0.86.

Pine Cliff Energy Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 30th will be given a $0.0013 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.02 annualized dividend and a dividend yield of 2.64%. Pine Cliff Energy’s dividend payout ratio (DPR) is presently -144.83%.

About Pine Cliff Energy

(Get Free Report)

Pine Cliff Energy Ltd is a Canadian natural gas focused, exploration and production company. It is mainly engaged in the exploration, development, and production of natural gas, crude oil, and natural gas liquids. The company owns a Western Canadian Sedimentary Basin, Ghost Pine/Three Hills and Camrose/Viking areas of Central Alberta, several gas assets in Southeast Alberta and Southwest Saskatchewan, non-operated properties in the Sundance, Harmattan, and Garrington areas of Alberta and others.

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