Pine Cliff Energy (TSE:PNE) Hits New 52-Week Low – Here’s Why

Pine Cliff Energy Ltd. (TSE:PNE)’s share price hit a new 52-week low during trading on Tuesday . The company traded as low as C$0.75 and last traded at C$0.76, with a volume of 177192 shares changing hands. The stock had previously closed at C$0.78.

Pine Cliff Energy Stock Performance

The stock has a fifty day moving average of C$0.88 and a 200-day moving average of C$0.90. The firm has a market capitalization of C$275.26 million, a P/E ratio of -18.35 and a beta of 0.37. The company has a quick ratio of 1.48, a current ratio of 0.47 and a debt-to-equity ratio of 76.74.

Pine Cliff Energy Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 31st will be paid a $0.005 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.06 annualized dividend and a yield of 7.89%. Pine Cliff Energy’s payout ratio is currently -144.83%.

Insider Transactions at Pine Cliff Energy

In related news, Director Robert Brent Fryk acquired 68,500 shares of the business’s stock in a transaction dated Tuesday, December 24th. The stock was bought at an average price of C$0.80 per share, with a total value of C$54,731.50. Insiders acquired a total of 88,500 shares of company stock worth $70,432 in the last three months. Insiders own 10.97% of the company’s stock.

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.