Pine Cliff Energy Ltd (PNE) Lowered to “Hold” at Industrial Alliance Securities

Industrial Alliance Securities lowered shares of Pine Cliff Energy Ltd (TSE:PNE) from a buy rating to a hold rating in a report released on Friday.

A number of other research firms have also recently commented on PNE. TD Securities cut shares of Pine Cliff Energy from a buy rating to a hold rating and decreased their target price for the stock from C$1.05 to C$0.85 in a research note on Friday, June 30th. Clarus Securities reaffirmed a buy rating on shares of Pine Cliff Energy in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of C$1.28.

Shares of Pine Cliff Energy (PNE) traded up 2.00% during trading on Friday, reaching $0.51. 87,300 shares of the company traded hands. The company’s market capitalization is $156.61 million. The company’s 50-day moving average price is $0.60 and its 200-day moving average price is $0.71. Pine Cliff Energy has a 52 week low of $0.49 and a 52 week high of $1.22.

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In other Pine Cliff Energy news, insider Robert Disbrow bought 39,000 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The stock was purchased at an average cost of C$0.67 per share, with a total value of C$26,130.00. Over the last three months, insiders purchased 447,500 shares of company stock valued at $271,685.

About Pine Cliff Energy

Pine Cliff Energy Ltd. (Pine Cliff) is a Canada-based oil and gas exploration and production company. The Company is engaged in the exploration, development and production of oil and natural gas in the Western Canadian Sedimentary Basin (WCSB). It is also involved in the exploration for precious metals through its subsidiaries.

Analyst Recommendations for Pine Cliff Energy (TSE:PNE)

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