Pine Cliff Energy (TSE:PNE) Stock Crosses Below 50 Day Moving Average - What's Next?

Pine Cliff Energy Ltd. (TSE:PNE - Get Free Report)'s share price crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$0.61 and traded as low as C$0.56. Pine Cliff Energy shares last traded at C$0.57, with a volume of 109,900 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PNE shares. Canaccord Genuity Group raised Pine Cliff Energy from a "hold" rating to a "buy" rating and set a C$0.90 price objective for the company in a report on Thursday, April 3rd. Desjardins decreased their price target on shares of Pine Cliff Energy from C$1.00 to C$0.95 and set a "buy" rating on the stock in a report on Thursday, May 8th.

Pine Cliff Energy Trading Down 1.6%

The stock has a 50 day moving average of C$0.60 and a 200 day moving average of C$0.77. 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 market cap of C$217.31 million, a P/E ratio of -14.48 and a beta of 0.37.

Pine Cliff Energy Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.0013 per share. This represents a $0.02 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Thursday, May 15th. Pine Cliff Energy's dividend payout ratio (DPR) is presently -144.83%.

Pine Cliff Energy Company Profile

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.