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

Key Points

• Pine Cliff Energy's stock price dropped below its fifty day moving average, currently trading at C$0.64, while its fifty day moving average is C$0.66.
• Desjardins lowered their target price on Pine Cliff Energy from C$1.00 to C$0.95 but still maintains a "buy" rating for the stock.
• The company announced a monthly dividend of $0.0013 per share, with an annualized yield of 2.4%, although the dividend payout ratio stands at -144.83%.

Pine Cliff Energy Ltd. (TSE:PNE - Get Free Report)'s stock price passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$0.66 and traded as low as C$0.64. Pine Cliff Energy shares last traded at C$0.64, with a volume of 74,364 shares traded.

Analysts Set New Price Targets

Separately, Desjardins reduced 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 research report on Thursday, May 8th.

Pine Cliff Energy Price Performance

The company has a market capitalization of C$235.42 million, a PE ratio of -15.69 and a beta of 0.37. The company's 50-day simple moving average is C$0.66 and its 200-day simple moving average is C$0.68. The company has a debt-to-equity ratio of 76.74, a quick ratio of 1.48 and a current ratio of 0.47.

Pine Cliff Energy Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 29th will be issued 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 yield of 2.4%. Pine Cliff Energy's payout ratio is currently -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.