Pine Cliff Energy (TSE:PNE) Share Price Crosses Above 50-Day Moving Average - What's Next?

Pine Cliff Energy Ltd. (TSE:PNE - Get Free Report) shares passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$0.58 and traded as high as C$0.69. Pine Cliff Energy shares last traded at C$0.69, with a volume of 219,900 shares traded.

Wall Street Analyst Weigh In

PNE has been the topic of a number of analyst reports. Desjardins lowered their target price 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. Canaccord Genuity Group upgraded shares of Pine Cliff Energy from a "hold" rating to a "buy" rating and set a C$0.90 target price on the stock in a report on Thursday, April 3rd.

Pine Cliff Energy Stock Performance

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 stock has a market capitalization of C$231.80 million, a P/E ratio of -15.45 and a beta of 0.37. The company's fifty day simple moving average is C$0.58 and its 200 day simple moving average is C$0.74.

Pine Cliff Energy Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.0013 per share. This represents a $0.02 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date of this dividend is Monday, June 16th. Pine Cliff Energy's dividend payout ratio is currently -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.