Pine Cliff Energy (TSE:PNE) Stock Crosses Above 50-Day Moving Average – Here’s Why

Pine Cliff Energy Ltd. (TSE:PNE)’s share price crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$0.96 and traded as high as C$0.96. Pine Cliff Energy shares last traded at C$0.94, with a volume of 61,205 shares.

Pine Cliff Energy Price Performance

The stock has a market cap of C$336.43 million, a PE ratio of -94.00 and a beta of 0.37. The company has a current ratio of 0.50, a quick ratio of 1.48 and a debt-to-equity ratio of 81.31. The company’s 50 day moving average is C$0.96 and its 200-day moving average is C$0.98.

Pine Cliff Energy (TSE:PNE) last released its quarterly earnings results on Thursday, August 8th. The company reported C($0.01) earnings per share (EPS) for the quarter. Pine Cliff Energy had a negative return on equity of 4.03% and a negative net margin of 2.14%. The firm had revenue of C$46.61 million for the quarter. As a group, sell-side analysts predict that Pine Cliff Energy Ltd. will post 0.0099907 earnings per share for the current year.

Pine Cliff Energy Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be issued a dividend of $0.005 per share. This represents a $0.06 annualized dividend and a yield of 6.38%. The ex-dividend date is Tuesday, October 15th. Pine Cliff Energy’s dividend payout ratio is currently -600.00%.

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.