Pine Cliff Energy Ltd. (TSE:PNE – Get Rating) announced a monthly dividend on Friday, August 12th, TickerTech reports. Investors of record on Wednesday, August 31st will be paid a dividend of 0.01 per share on Wednesday, August 31st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 6.32%. The ex-dividend date of this dividend is Friday, August 12th. This is a boost from Pine Cliff Energy's previous monthly dividend of $0.0083.
Pine Cliff Energy Stock Performance
PNE traded up C$0.01 on Wednesday, hitting C$1.90. 246,244 shares of the company traded hands, compared to its average volume of 738,552. The company has a 50 day moving average of C$1.68 and a 200-day moving average of C$1.40. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 3.37. The stock has a market capitalization of C$662.98 million and a PE ratio of 4.63. Pine Cliff Energy has a 12-month low of C$0.37 and a 12-month high of C$2.05.
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Insider Transactions at Pine Cliff Energy
In other Pine Cliff Energy news, Director Philip Blake Hodge bought 20,000 shares of the business's stock in a transaction dated Thursday, July 14th. The stock was acquired at an average cost of C$1.44 per share, with a total value of C$28,772.00. Following the purchase, the director now owns 9,069,500 shares in the company, valued at approximately C$13,047,382.70. In other Pine Cliff Energy news, Director Philip Blake Hodge bought 20,000 shares of the business's stock in a transaction dated Thursday, July 14th. The stock was acquired at an average cost of C$1.44 per share, with a total value of C$28,772.00. Following the purchase, the director now owns 9,069,500 shares in the company, valued at approximately C$13,047,382.70. Also, Senior Officer Terry Lee Mcneill sold 250,000 shares of the company's stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of C$2.02, for a total value of C$505,000.00. Following the completion of the sale, the insider now owns 1,404,052 shares in the company, valued at approximately C$2,836,185.04. In the last three months, insiders acquired 60,900 shares of company stock valued at $102,629 and sold 398,000 shares valued at $780,569.
Wall Street Analysts Forecast Growth
Several analysts have commented on the company. Haywood Securities reduced their price objective on Pine Cliff Energy from C$2.60 to C$2.40 and set an "outperform" rating for the company in a research note on Wednesday, July 27th. Stifel Nicolaus raised Pine Cliff Energy to a "buy" rating and upped their price objective for the company from C$2.25 to C$2.30 in a research note on Thursday, June 30th.
About Pine Cliff Energy
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Pine Cliff Energy Ltd. engages in the acquisition, exploration, development, and production of natural gas and oil in the Western Canadian Sedimentary Basin. It primarily holds interests in natural gas assets in the Southern and Edson areas; and oil and natural gas assets in the Viking Kinsella and Ghost Pine area of Central Alberta.
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