Pine Cliff Energy (TSE:PNE) Sets New 52-Week Low – What’s Next?

Shares of Pine Cliff Energy Ltd. (TSE:PNE) hit a new 52-week low on Thursday . The stock traded as low as C$0.66 and last traded at C$0.68, with a volume of 531384 shares trading hands. The stock had previously closed at C$0.72.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Desjardins reduced their price target on shares of Pine Cliff Energy from C$1.10 to C$0.95 and set an “outperform” rating for the company in a report on Wednesday, March 19th. Canaccord Genuity Group upgraded shares of Pine Cliff Energy from a “hold” rating to a “buy” rating and set a C$0.90 price target on the stock in a research note on Thursday.

Pine Cliff Energy Stock Down 9.0 %

The company has a market cap of C$220.94 million, a P/E ratio of -14.72 and a beta of 0.37. The company’s 50-day moving average is C$0.80 and its two-hundred day moving average is C$0.88. The company has a debt-to-equity ratio of 76.74, a current ratio of 0.47 and a quick ratio of 1.48.

Pine Cliff Energy Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 30th will be paid a $0.0013 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 2.56%. 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.