Pine Cliff Energy (TSE:PNE – Free Report) had its price objective lowered by Desjardins from C$1.50 to C$1.25 in a research note published on Friday, BayStreet.CA reports. The brokerage currently has a buy rating on the stock.
Several other equities research analysts also recently issued reports on PNE. Canaccord Genuity Group dropped their target price on Pine Cliff Energy from C$1.55 to C$1.40 in a research report on Tuesday, March 5th. Stifel Nicolaus lowered their price objective on 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.
Read Our Latest Report on Pine Cliff Energy
Pine Cliff Energy Price Performance
Pine Cliff Energy Cuts Dividend
The firm also recently announced a monthly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Friday, March 15th will be issued a dividend of $0.005 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.06 annualized dividend and a dividend yield of 5.94%. Pine Cliff Energy’s payout ratio is 200.00%.
Insider Activity
In other news, Director Philip Blake Hodge acquired 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, for a total transaction of C$25,402.50. Over the last ninety days, insiders acquired 33,900 shares of company stock worth $37,525. Insiders own 20.38% 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.
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