Desjardins Cuts Pine Cliff Energy (TSE:PNE) Price Target to C$0.95

Pine Cliff Energy (TSE:PNE) had its target price cut by Desjardins from C$1.00 to C$0.95 in a research report sent to investors on Thursday morning,BayStreet.CA reports. They currently have a buy rating on the stock.

Separately, Canaccord Genuity Group upgraded shares of Pine Cliff Energy from a “hold” rating to a “buy” rating and set a C$0.90 price objective on the stock in a report on Thursday, April 3rd.

Pine Cliff Energy Stock Performance

TSE:PNE opened at C$0.57 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 stock has a market capitalization of C$206.45 million, a PE ratio of -13.76 and a beta of 0.37. The business’s 50-day simple moving average is C$0.65 and its 200-day simple moving average is C$0.80. Pine Cliff Energy has a fifty-two week low of C$0.51 and a fifty-two week high of C$1.14.

Pine Cliff Energy Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Wednesday, April 30th. Investors of record on Wednesday, April 30th were paid a $0.0013 dividend. The ex-dividend date was Tuesday, April 15th. This represents a $0.02 annualized dividend and a yield of 2.74%. Pine Cliff Energy’s dividend payout ratio (DPR) is currently -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.