Desjardins Lowers Pine Cliff Energy (TSE:PNE) Price Target to C$0.95

Pine Cliff Energy (TSE:PNE) had its price target reduced by equities research analysts at Desjardins from C$1.10 to C$0.95 in a note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Desjardins’ target price would suggest a potential upside of 23.38% from the company’s previous close.

Pine Cliff Energy Stock Performance

TSE PNE traded up C$0.03 during trading hours on Wednesday, hitting C$0.77. 103,580 shares of the company’s stock traded hands, compared to its average volume of 172,414. The business’s fifty day moving average price is C$0.86 and its two-hundred day moving average price is C$0.89. The company has a current ratio of 0.47, a quick ratio of 1.48 and a debt-to-equity ratio of 76.74. The firm has a market capitalization of C$278.89 million, a P/E ratio of -18.59 and a beta of 0.37. Pine Cliff Energy has a 52 week low of C$0.74 and a 52 week high of C$1.14.

Insider Activity at Pine Cliff Energy

In other news, Director Robert Brent Fryk purchased 68,500 shares of the firm’s stock in a transaction on Tuesday, December 24th. The stock was acquired at an average cost of C$0.80 per share, with a total value of C$54,731.50. 10.97% of the stock is owned by 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.