Pine Cliff Energy (TSE:PNE) Upgraded at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Pine Cliff Energy (TSE:PNE) from a hold rating to a buy rating in a research report report published on Thursday, MarketBeat.com reports. Canaccord Genuity Group currently has C$0.90 price target on the stock.

Separately, Desjardins decreased their price target on shares of Pine Cliff Energy from C$1.10 to C$0.95 and set an “outperform” rating on the stock in a research note on Wednesday, March 19th.

Pine Cliff Energy Stock Performance

Shares of TSE PNE opened at C$0.61 on Thursday. The company has a debt-to-equity ratio of 76.74, a current ratio of 0.47 and a quick ratio of 1.48. The firm has a market cap of C$220.94 million, a price-to-earnings ratio of -14.72 and a beta of 0.37. The stock’s fifty day moving average price is C$0.80 and its two-hundred day moving average price is C$0.88. Pine Cliff Energy has a one year low of C$0.60 and a one year high of C$1.14.

Pine Cliff Energy Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 30th will be paid a dividend of $0.0013 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.02 dividend on an annualized basis and a yield of 2.56%. Pine Cliff Energy’s dividend payout ratio (DPR) is presently -144.83%.

Pine Cliff Energy Company Profile

Pine Cliff Energy Ltd is a Canadian natural gas focused, exploration and production company. It is mainly engaged in the exploration, development, and production of natural gas, crude oil, and natural gas liquids. The company owns a Western Canadian Sedimentary Basin, Ghost Pine/Three Hills and Camrose/Viking areas of Central Alberta, several gas assets in Southeast Alberta and Southwest Saskatchewan, non-operated properties in the Sundance, Harmattan, and Garrington areas of Alberta and others.