Pine Cliff Energy (TSE:PNE) Price Target Cut to C$1.10 by Analysts at Stifel Nicolaus

Pine Cliff Energy (TSE:PNE) had its target price dropped by equities researchers at Stifel Nicolaus from C$1.20 to C$1.10 in a report released on Thursday, BayStreet.CA reports. Stifel Nicolaus’ price objective indicates a potential upside of 11.11% from the company’s previous close.

PNE has been the subject of several other reports. Canaccord Genuity Group reduced their target price on Pine Cliff Energy from C$1.40 to C$1.20 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Desjardins reduced their price target on Pine Cliff Energy from C$1.25 to C$1.20 and set a “buy” rating for the company in a research note on Tuesday, April 23rd.

Pine Cliff Energy Stock Performance

Shares of TSE PNE traded up C$0.01 during midday trading on Thursday, hitting C$0.99. 1,188,492 shares of the company’s stock were exchanged, compared to its average volume of 341,564. The company has a quick ratio of 1.48, a current ratio of 0.48 and a debt-to-equity ratio of 62.18. Pine Cliff Energy has a 12 month low of C$0.94 and a 12 month high of C$1.68. The company’s 50 day moving average price is C$1.00 and its 200 day moving average price is C$1.25. The firm has a market capitalization of C$352.84 million, a PE ratio of 33.00 and a beta of 0.49.

Insider Activity at Pine Cliff Energy

In related news, Director Philip Blake Hodge acquired 25,000 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was purchased at an average cost of C$1.02 per share, with a total value of C$25,402.50. 10.84% of the stock is currently owned by corporate insiders.

Pine Cliff Energy Company Profile

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.