Pine Cliff Energy (TSE:PNE) Sets New 12-Month Low – What’s Next?

Pine Cliff Energy Ltd. (TSE:PNE)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as C$0.74 and last traded at C$0.74, with a volume of 174859 shares. The stock had previously closed at C$0.76.

Wall Street Analysts Forecast Growth

Separately, Desjardins lowered 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.

Pine Cliff Energy Stock Performance

The stock has a market cap of C$268.02 million, a PE ratio of -17.86 and a beta of 0.37. The company has a debt-to-equity ratio of 76.74, a current ratio of 0.47 and a quick ratio of 1.48. The firm has a 50 day moving average of C$0.83 and a two-hundred day moving average of C$0.89.

Pine Cliff Energy Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 31st will be issued a $0.005 dividend. This represents a $0.06 annualized dividend and a dividend yield of 8.11%. The ex-dividend date is Friday, March 14th. Pine Cliff Energy’s payout ratio is -144.83%.

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.