Pine Cliff Energy (TSE:PNE) Posts Earnings Results, Meets Expectations
Pine Cliff Energy (TSE:PNE) announced its quarterly earnings data on Tuesday. The company reported C($0.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of C($0.05), reports. The company had revenue of C$20.11 million for the quarter, compared to the consensus estimate of C$21.90 million.
Shares of Pine Cliff Energy stock traded up C$0.01 on Friday, reaching C$0.15. 328,600 shares of the company were exchanged, compared to its average volume of 234,814. Pine Cliff Energy has a one year low of C$0.10 and a one year high of C$0.36. The company has a market capitalization of $39.33 million and a price-to-earnings ratio of -0.65. The company has a current ratio of 0.95, a quick ratio of 0.73 and a debt-to-equity ratio of 179.03. The company has a 50-day moving average of C$0.14 and a 200 day moving average of C$0.16.
A number of brokerages have recently issued reports on PNE. GMP Securities dropped their price objective on Pine Cliff Energy from C$0.20 to C$0.15 in a research note on Wednesday, August 7th. CIBC dropped their price objective on Pine Cliff Energy from C$0.50 to C$0.25 in a research note on Thursday, July 18th. Finally, TD Securities dropped their price objective on Pine Cliff Energy from C$0.20 to C$0.15 and set a “hold” rating on the stock in a research note on Thursday, August 8th.
Pine Cliff Energy Ltd. engages in the acquisition, exploration, development, and production of natural gas, crude oil, and natural gas liquids in the Western Canadian Sedimentary Basin. The company 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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