Pine Cliff Energy (TSE:PNE) Share Price Passes Below 50-Day Moving Average of $1.72

Shares of Pine Cliff Energy Ltd. (TSE:PNEGet Rating) crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$1.72 and traded as low as C$1.64. Pine Cliff Energy shares last traded at C$1.67, with a volume of 769,694 shares.

Wall Street Analysts Forecast Growth

Separately, Haywood Securities reduced their price target on shares of Pine Cliff Energy from C$2.60 to C$2.40 and set an “outperform” rating for the company in a research note on Wednesday, July 27th.

Pine Cliff Energy Price Performance

The firm’s 50-day moving average is C$1.72 and its 200-day moving average is C$1.75. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.60 and a quick ratio of 1.48. The company has a market capitalization of C$584.31 million and a P/E ratio of 4.07.

Pine Cliff Energy Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, November 30th. Investors of record on Wednesday, November 30th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, November 14th. This represents a $0.12 annualized dividend and a yield of 7.19%. Pine Cliff Energy’s dividend payout ratio (DPR) is 4.05%.

Pine Cliff Energy Company Profile

(Get Rating)

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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