Pine Cliff Energy (TSE:PNE) Price Target Lowered to C$1.20 at Canaccord Genuity Group

Pine Cliff Energy (TSE:PNE) had its price objective dropped by research analysts at Canaccord Genuity Group from C$1.40 to C$1.20 in a research report issued on Wednesday, BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 20.00% from the company’s previous close.

A number of other research analysts also recently issued reports on the company. Desjardins reduced their price target on 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. Stifel Nicolaus reduced their price objective on shares of Pine Cliff Energy from C$1.50 to C$1.40 and set a “hold” rating on the stock in a research report on Wednesday, March 6th.

Pine Cliff Energy Stock Up 2.0 %

Shares of TSE PNE opened at C$1.00 on Wednesday. The company has a market cap of C$356.30 million, a price-to-earnings ratio of 33.33 and a beta of 0.52. The company has a quick ratio of 1.48, a current ratio of 0.48 and a debt-to-equity ratio of 62.18. The firm’s fifty day moving average is C$1.06 and its 200 day moving average is C$1.30. Pine Cliff Energy has a 52 week low of C$0.94 and a 52 week high of C$1.68.

Insider Buying and Selling at Pine Cliff Energy

In related news, Director Philip Blake Hodge acquired 25,000 shares of the stock in a transaction on Thursday, March 7th. The stock was acquired at an average price of C$1.02 per share, for a total transaction of C$25,402.50. Over the last quarter, insiders acquired 33,900 shares of company stock valued at $37,525. Corporate insiders own 20.42% 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.