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

Key Points

• Pine Cliff Energy's stock price has fallen below its 50-day moving average of C$0.66, hitting a low of C$0.59 before closing at C$0.61.
• The company announced a dividend of $0.0013 per share, which translates to a remarkably high yield of 254.0%, though its payout ratio stands at -75.00%.
• Pine Cliff Energy is focused on natural gas exploration and production, with assets located in various regions of Canada including Alberta and Saskatchewan.

Shares of Pine Cliff Energy Ltd. (TSE:PNE - Get Free Report) crossed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$0.66 and traded as low as C$0.59. Pine Cliff Energy shares last traded at C$0.61, with a volume of 177,990 shares changing hands.

Pine Cliff Energy Stock Performance

The firm has a market capitalization of C$222.45 million, a PE ratio of -10.33 and a beta of -0.22. The company's 50-day simple moving average is C$0.65 and its 200 day simple moving average is C$0.64. The company has a quick ratio of 1.48, a current ratio of 0.47 and a debt-to-equity ratio of 76.74.

Pine Cliff Energy Announces Dividend

The business also recently disclosed a sep 25 dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 29th will be issued a dividend of $0.0013 per share. The ex-dividend date is Monday, September 15th. This represents a dividend yield of 254.0%. Pine Cliff Energy's dividend payout ratio is -75.00%.

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.