Pine Cliff Energy (TSE:PNE) PT Lowered to C$0.20

Pine Cliff Energy (TSE:PNE) had its price objective reduced by analysts at GMP Securities from C$0.30 to C$0.20 in a research note issued on Friday, June 28th, BayStreet.CA reports. GMP Securities’ target price suggests a potential upside of 17.65% from the company’s previous close.

Other analysts also recently issued reports about the company. National Bank Financial raised their price target on Yamana Gold from C$3.75 to C$4.00 and gave the stock a “sector perform” rating in a research report on Friday, May 10th. TD Securities lowered their price target on Total Energy Services from C$11.50 to C$10.00 and set a “hold” rating for the company in a research report on Friday, May 10th.

Shares of PNE stock remained flat at $C$0.17 on Friday. 190,000 shares of the company were exchanged, compared to its average volume of 126,067. The business has a 50-day moving average price of C$0.18. Pine Cliff Energy has a 1 year low of C$0.16 and a 1 year high of C$0.44. The company has a quick ratio of 1.07, a current ratio of 1.29 and a debt-to-equity ratio of 116.57. The firm has a market capitalization of $52.20 million and a PE ratio of -0.81.

Pine Cliff Energy (TSE:PNE) last posted its earnings results on Wednesday, May 8th. The company reported C($0.02) earnings per share for the quarter, meeting analysts’ consensus estimates of C($0.02). The business had revenue of C$32.06 million during the quarter, compared to analysts’ expectations of C$28.40 million. As a group, research analysts anticipate that Pine Cliff Energy will post -0.08 earnings per share for the current year.

In related news, insider Robert Disbrow purchased 450,000 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was bought at an average cost of C$0.18 per share, for a total transaction of C$81,000.00. Following the completion of the transaction, the insider now directly owns 19,162,083 shares in the company, valued at C$3,449,174.94. Over the last 90 days, insiders purchased 521,000 shares of company stock valued at $93,830.

Pine Cliff Energy Company Profile

Pine Cliff Energy Ltd. engages in the acquisition, exploration, development, and production of natural gas, crude oil, and natural gas liquids in the Western Canadian Sedimentary Basin. The company primarily holds interests in natural gas assets in the Southern and Edson areas; and oil and natural gas assets in the Viking Kinsella and Ghost Pine area of Central Alberta.

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