Philip Blake Hodge Buys 20,000 Shares of Pine Cliff Energy Ltd. (TSE:PNE) Stock

Pine Cliff Energy Ltd. (TSE:PNE) Director Philip Blake Hodge bought 20,000 shares of Pine Cliff Energy stock in a transaction dated Monday, April 7th. The stock was acquired at an average cost of C$0.57 per share, with a total value of C$11,400.00.

Pine Cliff Energy Price Performance

Shares of TSE:PNE traded down C$0.03 during trading on Monday, hitting C$0.58. 490,703 shares of the stock were exchanged, compared to its average volume of 187,988. Pine Cliff Energy Ltd. has a 12-month low of C$0.56 and a 12-month high of C$1.14. The company has a market cap of C$210.07 million, a PE ratio of -14.00 and a beta of 0.37. The company has a fifty day moving average price of C$0.80 and a two-hundred day moving average price of C$0.87. The company has a current ratio of 0.47, a quick ratio of 1.48 and a debt-to-equity ratio of 76.74.

Pine Cliff Energy Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 30th will be given a $0.0013 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $0.02 annualized dividend and a dividend yield of 2.69%. Pine Cliff Energy’s dividend payout ratio is presently -144.83%.

Analysts Set New Price Targets

PNE has been the subject of several recent research reports. Desjardins decreased their price target on 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 raised shares of Pine Cliff Energy from a “hold” rating to a “buy” rating and set a C$0.90 price target for the company in a report on Thursday.

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.