Pine Cliff Energy (TSE:PNE) Stock Rating Lowered by Desjardins

Desjardins downgraded shares of Pine Cliff Energy (TSE:PNE) from a moderate buy rating to a hold rating in a research report report published on Tuesday,Zacks.com reports.

Pine Cliff Energy Price Performance

Shares of TSE:PNE opened at C$0.76 on Tuesday. The firm’s 50 day moving average price is C$0.85 and its 200 day moving average price is C$0.89. The stock has a market cap of C$275.26 million, a price-to-earnings ratio of -18.35 and a beta of 0.37. Pine Cliff Energy has a fifty-two week low of C$0.74 and a fifty-two week high of C$1.14. The company has a quick ratio of 1.48, a current ratio of 0.47 and a debt-to-equity ratio of 76.74.

Pine Cliff Energy Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 31st will be issued a $0.005 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.06 annualized dividend and a yield of 7.89%. Pine Cliff Energy’s dividend payout ratio (DPR) is -144.83%.

Insider Activity at Pine Cliff Energy

In other news, Director Robert Brent Fryk bought 68,500 shares of Pine Cliff Energy stock in a transaction that occurred on Tuesday, December 24th. The shares were purchased at an average price of C$0.80 per share, with a total value of C$54,731.50. 10.97% of the stock is owned by corporate insiders.

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.