Pine Cliff Energy (TSE:PNE) Price Target Cut to C$1.20

Pine Cliff Energy (TSE:PNE) had its price target decreased by research analysts at Desjardins from C$1.25 to C$1.20 in a report issued on Tuesday, BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Desjardins’ price objective suggests a potential upside of 23.71% from the stock’s current price.

A number of other equities analysts also recently commented on the company. Canaccord Genuity Group decreased their target price on Pine Cliff Energy from C$1.40 to C$1.20 and set a “buy” rating for the company in a report on Wednesday, April 17th. Stifel Nicolaus reduced their price target on Pine Cliff Energy from C$1.50 to C$1.40 and set a “hold” rating on the stock in a research note on Wednesday, March 6th.

Pine Cliff Energy Price Performance

Shares of Pine Cliff Energy stock opened at C$0.97 on Tuesday. 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 company has a market cap of C$345.61 million, a PE ratio of 32.67 and a beta of 0.52. The business has a 50 day moving average of C$1.04 and a 200 day moving average of C$1.29. Pine Cliff Energy has a 52 week low of C$0.94 and a 52 week high of C$1.68.

Insider Transactions at Pine Cliff Energy

In related news, Director Philip Blake Hodge bought 25,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were purchased at an average cost of C$1.02 per share, with a total value of C$25,402.50. Over the last three months, insiders have purchased 33,900 shares of company stock valued at $37,525. 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.