Pine Cliff Energy (TSE:PNE) Downgraded by Desjardins to Hold

Pine Cliff Energy (TSE:PNE) was downgraded by Desjardins from a “moderate buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

Pine Cliff Energy Stock Up 2.7 %

Shares of PNE stock opened at C$0.76 on Tuesday. The stock’s fifty day moving average price is C$0.85 and its 200 day moving average price is C$0.89. Pine Cliff Energy has a 1-year low of C$0.74 and a 1-year high of C$1.14. The company has a market cap of C$275.26 million, a price-to-earnings ratio of -18.35 and a beta of 0.37. The company has a debt-to-equity ratio of 76.74, a current ratio of 0.47 and a quick ratio of 1.48.

Insider Buying and Selling

In other news, Director Robert Brent Fryk bought 68,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The shares were purchased at an average cost of C$0.80 per share, with a total value of C$54,731.50. 10.97% of the stock is owned by company insiders.

Pine Cliff Energy Company Profile

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.