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 mid-day trading on Wednesday . The company traded as low as C$0.51 and last traded at C$0.55, with a volume of 205431 shares traded. The stock had previously closed at C$0.55.

Analysts Set New Price Targets

PNE has been the topic of several analyst reports. Desjardins cut their price target on shares of Pine Cliff Energy from C$1.10 to C$0.95 and set an “outperform” rating on the stock in a report on Wednesday, March 19th. Canaccord Genuity Group upgraded shares of Pine Cliff Energy from a “hold” rating to a “buy” rating and set a C$0.90 price objective for the company in a research note on Thursday, April 3rd.

Pine Cliff Energy Stock Up 10.9 %

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 business’s fifty day simple moving average is C$0.78 and its two-hundred day simple moving average is C$0.87. The company has a market cap of C$220.94 million, a PE ratio of -14.72 and a beta of 0.37.

Pine Cliff Energy Cuts Dividend

The firm also recently disclosed 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. This represents a $0.02 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend is Tuesday, April 15th. Pine Cliff Energy’s dividend payout ratio (DPR) is presently -144.83%.

About Pine Cliff Energy

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.