Pine Cliff Energy (TSE:PNE) PT Lowered to C$1.20

Pine Cliff Energy (TSE:PNE) had its target price lowered by Canaccord Genuity Group from C$1.40 to C$1.20 in a report released on Wednesday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 22.45% from the company’s current price.

A number of other brokerages have also issued reports on PNE. Stifel Nicolaus cut their price target on shares of 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. Desjardins cut their price target on shares of 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.

Pine Cliff Energy Stock Performance

TSE:PNE remained flat at C$0.98 during trading hours on Wednesday. 220,234 shares of the company were exchanged, compared to its average volume of 351,354. The company has a market capitalization of C$349.17 million, a price-to-earnings ratio of 32.67 and a beta of 0.52. The firm’s 50-day moving average price is C$1.07 and its 200-day moving average price is C$1.30. Pine Cliff Energy has a one year low of C$0.94 and a one year high of C$1.68. The company has a debt-to-equity ratio of 62.18, a current ratio of 0.48 and a quick ratio of 1.48.

Insider Activity

In related news, Director Philip Blake Hodge bought 25,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were purchased at an average price of C$1.02 per share, with a total value of C$25,402.50. In the last 90 days, insiders have purchased 33,900 shares of company stock valued at $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.