Pine Cliff Energy (TSE:PNE) Share Price Crosses Above 50 Day Moving Average – Here’s Why

Pine Cliff Energy Ltd. (TSE:PNE) passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$0.87 and traded as high as C$0.89. Pine Cliff Energy shares last traded at C$0.89, with a volume of 213,410 shares changing hands.

Pine Cliff Energy Stock Performance

The firm has a market capitalization of C$325.69 million, a P/E ratio of -91.00 and a beta of 0.37. The company has a 50-day moving average of C$0.87 and a 200-day moving average of C$0.94. The company has a current ratio of 0.50, a quick ratio of 1.48 and a debt-to-equity ratio of 81.31.

Pine Cliff Energy Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.005 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 6.59%. Pine Cliff Energy’s dividend payout ratio (DPR) is -600.00%.

Insider Activity at Pine Cliff Energy

In other news, Director Robert Brent Fryk bought 68,500 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The shares were acquired at an average price of C$0.80 per share, for a total transaction of C$54,731.50. Insiders have purchased 103,500 shares of company stock worth $83,967 over the last ninety days. Insiders own 10.97% 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.