Pine Cliff Energy (TSE:PNE) Issues Quarterly Earnings Results, Hits Expectations

Pine Cliff Energy (TSE:PNE) posted its earnings results on Tuesday. The company reported C($0.05) EPS for the quarter, meeting the consensus estimate of C($0.05), reports. The business had revenue of C$20.11 million during the quarter, compared to analyst estimates of C$21.90 million.

PNE traded up C$0.01 during trading hours on Friday, hitting C$0.15. The company’s stock had a trading volume of 328,600 shares, compared to its average volume of 234,809. Pine Cliff Energy has a fifty-two week low of C$0.10 and a fifty-two week high of C$0.36. The company has a current ratio of 0.95, a quick ratio of 0.73 and a debt-to-equity ratio of 179.03. The firm has a market capitalization of $39.33 million and a PE ratio of -0.65. The company has a 50-day simple moving average of C$0.14 and a 200 day simple moving average of C$0.16.

Several analysts recently commented on PNE shares. TD Securities lowered their target price on Pine Cliff Energy from C$0.20 to C$0.15 and set a “hold” rating on the stock in a research report on Thursday, August 8th. GMP Securities lowered their target price on Pine Cliff Energy from C$0.20 to C$0.15 in a research report on Wednesday, August 7th. Finally, CIBC lowered their target price on Pine Cliff Energy from C$0.50 to C$0.25 in a research report on Thursday, July 18th.

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.

Further Reading: Hold Rating

Earnings History for Pine Cliff Energy (TSE:PNE)

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