Pine Cliff Energy Ltd. (TSE:PNE) Declares $0.01 Monthly Dividend

Pine Cliff Energy Ltd. (TSE:PNE - Get Free Report) declared a monthly dividend on Tuesday, May 14th, Zacks reports. Stockholders of record on Friday, May 31st will be given a dividend of 0.005 per share on Friday, May 31st. This represents a $0.06 annualized dividend and a dividend yield of 6.12%. The ex-dividend date of this dividend is Tuesday, May 14th.

Pine Cliff Energy Stock Down 1.0 %

Shares of PNE traded down C$0.01 during midday trading on Friday, hitting C$0.98. The company had a trading volume of 378,811 shares, compared to its average volume of 332,580. The stock has a market cap of C$349.27 million, a price-to-earnings ratio of 32.67 and a beta of 0.49. The company's 50 day moving average price is C$1.01 and its 200 day moving average price is C$1.26. The company has a quick ratio of 1.48, a current ratio of 0.48 and a debt-to-equity ratio of 62.18. Pine Cliff Energy has a 52 week low of C$0.94 and a 52 week high of C$1.68.

Insiders Place Their Bets

In other Pine Cliff Energy news, Director Philip Blake Hodge bought 25,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were purchased at an average cost of C$1.02 per share, for a total transaction of C$25,402.50. 10.84% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Desjardins reduced their price objective on Pine Cliff Energy from C$1.25 to C$1.20 and set a "buy" rating on the stock in a research note on Tuesday, April 23rd. Stifel Nicolaus reduced their price target on shares of Pine Cliff Energy from C$1.50 to C$1.40 and set a "hold" rating on the stock in a research report on Wednesday, March 6th. Finally, Canaccord Genuity Group lowered their price objective on shares of Pine Cliff Energy from C$1.40 to C$1.20 and set a "buy" rating for the company in a research report on Wednesday, April 17th.

About Pine Cliff Energy

Pine Cliff Energy Ltd. engages in the acquisition, exploration, development, and production of natural gas and crude oil in the Western Canadian Sedimentary Basin. The company primarily holds interest in oil and gas properties in the Viking and Ghost Pine area of Central Alberta, as well as in the Southern Alberta, Southern Saskatchewan, and Edson areas.