Pine Cliff Energy Ltd. (TSE:PNE) to Issue Monthly Dividend of $0.01

Pine Cliff Energy Ltd. (TSE:PNE) announced a monthly dividend on Thursday, August 15th, Zacks reports. Stockholders of record on Friday, August 30th will be given a dividend of 0.005 per share on Friday, August 30th. This represents a $0.06 annualized dividend and a dividend yield of 6.19%. The ex-dividend date of this dividend is Thursday, August 15th.

Pine Cliff Energy Stock Performance

Shares of PNE stock remained flat at C$0.97 during trading hours on Tuesday. The stock had a trading volume of 19,790 shares, compared to its average volume of 287,597. The stock has a market capitalization of C$346.20 million, a P/E ratio of 97.00 and a beta of 0.49. The company’s fifty day simple moving average is C$0.98 and its two-hundred day simple moving average is C$1.04. Pine Cliff Energy has a fifty-two week low of C$0.85 and a fifty-two week high of C$1.68. The company has a quick ratio of 1.48, a current ratio of 0.50 and a debt-to-equity ratio of 81.31.

Insider Buying and Selling

In related news, Senior Officer Terry Lee Mcneill sold 80,000 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of C$1.06, for a total transaction of C$84,800.00. Insiders have bought 9,000 shares of company stock worth $9,270 over the last ninety days. 10.96% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PNE has been the topic of a number of recent analyst reports. Canaccord Genuity Group lowered Pine Cliff Energy from a “buy” rating to a “hold” rating and cut their target price for the company from C$1.20 to C$1.10 in a research report on Wednesday, June 5th. Desjardins reduced their price objective on shares of 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. Finally, Stifel Nicolaus dropped their target price on shares of Pine Cliff Energy from C$1.20 to C$1.10 in a research report on Thursday, May 9th.

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.