Pine Cliff Energy (TSE:PNE) Given New C$0.35 Price Target at TD Securities

Pine Cliff Energy (TSE:PNE) had its target price reduced by TD Securities from C$0.50 to C$0.35 in a research report sent to investors on Thursday, March 15th. They currently have a hold rating on the stock.

A number of other equities research analysts have also weighed in on the stock. National Bank Financial cut their target price on shares of Pine Cliff Energy from C$0.65 to C$0.50 and set a sector perform rating on the stock in a research note on Tuesday, January 9th. CIBC cut their target price on shares of Pine Cliff Energy from C$0.50 to C$0.40 in a research note on Tuesday, January 23rd. Canaccord Genuity dropped their price objective on shares of Pine Cliff Energy from C$0.80 to C$0.60 in a research note on Wednesday, March 14th. Finally, Desjardins dropped their price objective on shares of Pine Cliff Energy from C$0.50 to C$0.40 in a research note on Wednesday, February 14th.

Shares of PNE traded up C$0.01 during trading hours on Thursday, reaching C$0.32. 68,508 shares of the company traded hands, compared to its average volume of 870,912. Pine Cliff Energy has a 12 month low of C$0.26 and a 12 month high of C$0.86.

Pine Cliff Energy (TSE:PNE) last announced its earnings results on Tuesday, March 13th. The company reported C($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of C($0.03) by C($0.01). The company had revenue of C$27.38 million for the quarter, compared to the consensus estimate of C$26.30 million. Pine Cliff Energy had a negative net margin of 126.46% and a negative return on equity of 69.00%.

In other Pine Cliff Energy news, insider George Frederick Fink acquired 131,000 shares of the company’s stock in a transaction that occurred on Monday, April 2nd. The shares were acquired at an average price of C$0.31 per share, with a total value of C$40,610.00. Also, insider Robert Disbrow acquired 300,000 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The shares were acquired at an average cost of C$0.37 per share, for a total transaction of C$111,000.00. Insiders have purchased 1,091,500 shares of company stock worth $360,370 in the last three months.

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Pine Cliff Energy Company Profile

Pine Cliff Energy Ltd. engages in the acquisition, exploration for, development, and production of natural gas, crude oil, and natural gas liquids in the Western Canadian Sedimentary Basin.The company primarily holds interests in natural gas assets in the Southern core area and Edson core area; and oil and natural gas assets in the Viking and Ghost Pine area of Central Alberta.

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