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

Desjardins downgraded shares of Pine Cliff Energy (TSE:PNE) from a moderate buy rating to a hold rating in a research note issued to investors on Tuesday,Zacks.com reports.

Pine Cliff Energy Price Performance

TSE PNE opened at C$0.76 on Tuesday. Pine Cliff Energy has a 52 week low of C$0.74 and a 52 week high of C$1.14. The firm has a market capitalization of C$275.26 million, a P/E ratio of -18.35 and a beta of 0.37. The company has a quick ratio of 1.48, a current ratio of 0.47 and a debt-to-equity ratio of 76.74. The company has a 50-day moving average price of C$0.85 and a 200-day moving average price of C$0.89.

Pine Cliff Energy Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 31st will be paid a dividend of $0.005 per share. The ex-dividend date is Friday, March 14th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 7.89%. Pine Cliff Energy’s dividend payout ratio (DPR) is presently -144.83%.

Insiders Place Their Bets

In related news, Director Robert Brent Fryk purchased 68,500 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The shares were bought at an average price of C$0.80 per share, for a total transaction of C$54,731.50. 10.97% of the stock is currently owned by corporate 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.