Pine Cliff Energy Ltd. to Issue Monthly Dividend of $0.01 (TSE:PNE)

Pine Cliff Energy Ltd. (TSE:PNE) declared a monthly dividend on Thursday, August 15th, Zacks reports. Investors of record on Friday, August 30th will be paid a dividend of 0.005 per share on Friday, August 30th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 6.19%. The ex-dividend date is Thursday, August 15th.

Pine Cliff Energy Stock Performance

Shares of Pine Cliff Energy stock remained flat at C$0.97 during trading hours on Tuesday. 19,790 shares of the company’s stock were exchanged, compared to its average volume of 287,597. The company has a quick ratio of 1.48, a current ratio of 0.50 and a debt-to-equity ratio of 81.31. The business has a 50 day simple moving average of C$0.98 and a two-hundred day simple moving average of C$1.04. The stock has a market cap of C$346.20 million, a P/E ratio of 97.00 and a beta of 0.49. Pine Cliff Energy has a 12-month low of C$0.85 and a 12-month high of C$1.68.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PNE shares. Desjardins decreased their price target on Pine Cliff Energy from C$1.25 to C$1.20 and set a “buy” rating for the company in a report on Tuesday, April 23rd. Stifel Nicolaus decreased their price objective on shares of Pine Cliff Energy from C$1.20 to C$1.10 in a research note on Thursday, May 9th. Finally, Canaccord Genuity Group lowered shares of Pine Cliff Energy from a “buy” rating to a “hold” rating and reduced their price target for the company from C$1.20 to C$1.10 in a research report on Wednesday, June 5th.

Insider Buying and Selling at Pine Cliff Energy

In other Pine Cliff Energy news, Senior Officer Terry Lee Mcneill sold 80,000 shares of the business’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of C$1.06, for a total value of C$84,800.00. Over the last ninety days, insiders bought 9,000 shares of company stock valued at $9,270. Company insiders own 10.96% 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.