Pine Cliff Energy (TSE:PNE) Price Target Cut to C$1.20

Pine Cliff Energy (TSE:PNE - Get Free Report) had its price target reduced by analysts at Desjardins from C$1.25 to C$1.20 in a note issued to investors on Tuesday, BayStreet.CA reports. The brokerage currently has a "buy" rating on the stock. Desjardins' target price would indicate a potential upside of 20.00% from the company's current price.

Several other brokerages also recently commented on PNE. Stifel Nicolaus lowered their price objective on shares of Pine Cliff Energy from C$1.50 to C$1.40 and set a "hold" rating for the company in a research note on Wednesday, March 6th. 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 note on Wednesday, April 17th.

Pine Cliff Energy Trading Up 3.1 %

TSE PNE traded up C$0.03 during trading on Tuesday, hitting C$1.00. 88,586 shares of the company's stock traded hands, compared to its average volume of 339,518. The firm has a market cap of C$356.30 million, a P/E ratio of 33.00 and a beta of 0.52. The stock has a fifty day moving average of C$1.05 and a two-hundred day moving average of C$1.29. The company has a debt-to-equity ratio of 62.18, a current ratio of 0.48 and a quick ratio of 1.48. Pine Cliff Energy has a 12-month low of C$0.94 and a 12-month high of C$1.68.

Insider Buying and Selling

In related news, Director Philip Blake Hodge purchased 25,000 shares of the firm's stock in a transaction that occurred on Thursday, March 7th. The stock was bought at an average cost of C$1.02 per share, with a total value of C$25,402.50. Insiders purchased a total of 33,900 shares of company stock valued at $37,525 over the last three months. Corporate insiders own 20.42% of the company's stock.

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.