Pine Cliff Energy (TSE:PNE) Sets New 12-Month Low – What’s Next?

Pine Cliff Energy Ltd. (TSE:PNE) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as C$0.74 and last traded at C$0.74, with a volume of 174859 shares changing hands. The stock had previously closed at C$0.76.

Wall Street Analysts Forecast Growth

Separately, Desjardins cut their price target on Pine Cliff Energy from C$1.10 to C$0.95 and set an “outperform” rating on the stock in a research report on Wednesday, March 19th.

Pine Cliff Energy Trading Down 2.6 %

The business’s 50 day simple moving average is C$0.83 and its 200 day simple moving average is C$0.89. The company has a debt-to-equity ratio of 76.74, a current ratio of 0.47 and a quick ratio of 1.48. The company has a market capitalization of C$268.02 million, a price-to-earnings ratio of -17.86 and a beta of 0.37.

Pine Cliff Energy Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 31st will be paid a $0.005 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.06 annualized dividend and a yield of 8.11%. Pine Cliff Energy’s dividend payout ratio is currently -144.83%.

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.