Pine Cliff Energy (TSE:PNE) Shares Pass Below 50 Day Moving Average - Time to Sell?

Key Points

• Pine Cliff Energy's share price fell below its fifty-day moving average, trading at C$0.61 against an average of C$0.67.
• Desjardins lowered their target price for Pine Cliff Energy shares from C$1.00 to C$0.95, maintaining a "buy" rating on the stock.
• The company declared a monthly dividend of $0.0013, with a yield of 2.6% and an ex-dividend date of August 15th.

Pine Cliff Energy Ltd. (TSE:PNE - Get Free Report)'s share price passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$0.67 and traded as low as C$0.61. Pine Cliff Energy shares last traded at C$0.61, with a volume of 65,710 shares traded.

Wall Street Analysts Forecast Growth

Separately, Desjardins reduced their price objective on shares of Pine Cliff Energy from C$1.00 to C$0.95 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of C$0.93.

Pine Cliff Energy Trading Up 5.0%

The firm has a market capitalization of C$228.18 million, a PE ratio of -15.21 and a beta of 0.37. The stock's 50-day moving average price is C$0.67 and its 200 day moving average price is C$0.67. The company has a debt-to-equity ratio of 76.74, a current ratio of 0.47 and a quick ratio of 1.48.

Pine Cliff Energy Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 29th will be given a dividend of $0.0013 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a c) dividend on an annualized basis and a dividend yield of 2.5%. Pine Cliff Energy's dividend payout ratio (DPR) is -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.