Desjardins Downgrades Pine Cliff Energy (TSE:PNE) to Hold

Pine Cliff Energy (TSE:PNE) was downgraded by stock analysts at Desjardins from a “moderate buy” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

Pine Cliff Energy Stock Performance

Shares of TSE:PNE opened at C$0.76 on Tuesday. 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’s 50-day moving average is C$0.85 and its 200 day moving average is C$0.89. Pine Cliff Energy has a 12 month low of C$0.74 and a 12 month high of C$1.14. The company has a market capitalization of C$275.26 million, a price-to-earnings ratio of -18.35 and a beta of 0.37.

Insider Activity

In other Pine Cliff Energy news, Director Robert Brent Fryk acquired 68,500 shares of the company’s stock in a transaction dated Tuesday, December 24th. The shares were purchased at an average cost of C$0.80 per share, for a total transaction of C$54,731.50. Insiders own 10.97% of the company’s stock.

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.