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

Pine Cliff Energy (TSE:PNE) had its price objective reduced by equities researchers at Canaccord Genuity Group from C$1.40 to C$1.20 in a research note issued on Wednesday, BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 22.45% from the stock’s current price.

A number of other analysts have also recently weighed in on the stock. Stifel Nicolaus lowered 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 lowered 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

Pine Cliff Energy stock remained flat at C$0.98 during midday trading on Wednesday. 220,234 shares of the company’s stock traded hands, compared to its average volume of 351,354. Pine Cliff Energy has a one year low of C$0.94 and a one year high of C$1.68. The firm has a market cap of C$349.17 million, a P/E ratio of 32.67 and a beta of 0.52. The company has a current ratio of 0.48, a quick ratio of 1.48 and a debt-to-equity ratio of 62.18. The business’s 50 day moving average price is C$1.07 and its 200-day moving average price is C$1.30.

Insider Activity at Pine Cliff Energy

In related news, Director Philip Blake Hodge acquired 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was purchased at an average cost 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 in the last three months. 20.42% of the stock is owned by insiders.

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.