Canaccord Genuity Group Lowers Pine Cliff Energy (TSE:PNE) Price Target to C$1.20

Pine Cliff Energy (TSE:PNE) had its price objective lowered by stock analysts at Canaccord Genuity Group from C$1.40 to C$1.20 in a research note issued to investors on Wednesday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 20.00% from the company’s previous close.

PNE has been the topic of a number of other reports. Stifel Nicolaus cut 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 report on Wednesday, March 6th. Desjardins dropped their target price on shares of Pine Cliff Energy from C$1.50 to C$1.25 and set a “buy” rating on the stock in a research report on Friday, March 22nd.

Pine Cliff Energy Stock Performance

Shares of PNE opened at C$1.00 on Wednesday. The company has a current ratio of 0.48, a quick ratio of 1.48 and a debt-to-equity ratio of 62.18. The firm’s fifty day simple moving average is C$1.06 and its two-hundred day simple moving average is C$1.30. Pine Cliff Energy has a 12 month low of C$0.94 and a 12 month high of C$1.68. The stock has a market capitalization of C$356.30 million, a P/E ratio of 33.33 and a beta of 0.52.

Insider Buying and Selling at Pine Cliff Energy

In related news, Director Philip Blake Hodge purchased 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was acquired at an average price of C$1.02 per share, for a total transaction of C$25,402.50. In the last quarter, insiders purchased 33,900 shares of company stock worth $37,525. Insiders own 20.42% of the company’s stock.

About Pine Cliff Energy

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.