Shares of Pine Cliff Energy Ltd. (TSE:PNE – Get Rating) crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$1.69 and traded as high as C$1.84. Pine Cliff Energy shares last traded at C$1.83, with a volume of 826,906 shares trading hands.
Analyst Ratings Changes
PNE has been the subject of a number of analyst reports. Stifel Nicolaus raised Pine Cliff Energy to a “buy” rating and raised their price objective for the company from C$2.25 to C$2.30 in a research report on Thursday, June 30th. Haywood Securities reduced their price objective on Pine Cliff Energy from C$2.60 to C$2.40 and set an “outperform” rating for the company in a research report on Wednesday, July 27th.
Pine Cliff Energy Trading Up 1.7 %
The firm has a 50 day simple moving average of C$1.69 and a 200 day simple moving average of C$1.36. The company has a current ratio of 1.07, a quick ratio of 0.98 and a debt-to-equity ratio of 58.23. The firm has a market capitalization of C$628.45 million and a PE ratio of 6.78.
Pine Cliff Energy Announces Dividend
The firm also recently announced a monthly dividend, which was paid on Friday, July 29th. Shareholders of record on Friday, July 29th were paid a dividend of $0.0083 per share. The ex-dividend date of this dividend was Thursday, July 14th. This represents a $0.10 annualized dividend and a yield of 5.44%. Pine Cliff Energy’s dividend payout ratio is 37.04%.
Insider Transactions at Pine Cliff Energy
In other news, Director Philip Blake Hodge purchased 20,000 shares of the company’s stock in a transaction dated Thursday, July 14th. The shares were purchased at an average cost of C$1.44 per share, for a total transaction of C$28,772.00. Following the purchase, the director now directly owns 9,069,500 shares in the company, valued at approximately C$13,047,382.70. In other news, Director Philip Blake Hodge purchased 20,000 shares of the company’s stock in a transaction dated Thursday, July 14th. The shares were purchased at an average cost of C$1.44 per share, for a total transaction of C$28,772.00. Following the purchase, the director now directly owns 9,069,500 shares in the company, valued at approximately C$13,047,382.70. Also, Senior Officer Terry Lee Mcneill sold 250,000 shares of the firm’s stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of C$2.02, for a total value of C$505,000.00. Following the completion of the transaction, the insider now owns 1,404,052 shares in the company, valued at C$2,836,185.04. In the last ninety days, insiders have bought 110,900 shares of company stock worth $185,629 and have sold 408,000 shares worth $797,995.
About Pine Cliff Energy
Pine Cliff Energy Ltd. engages in the acquisition, exploration, development, and production of natural gas and oil in the Western Canadian Sedimentary Basin. It 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.
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