Pine Cliff Energy Ltd. (TSE:PNE – Get Rating) announced a monthly dividend on Friday, August 12th, TickerTech reports. Shareholders of record on Wednesday, August 31st will be given a dividend of 0.01 per share on Wednesday, August 31st. This represents a $0.12 annualized dividend and a dividend yield of 6.32%. The ex-dividend date of this dividend is Friday, August 12th. This is a positive change from Pine Cliff Energy's previous monthly dividend of $0.0083.
Pine Cliff Energy Stock Up 0.5 %
Shares of PNE stock traded up C$0.01 during mid-day trading on Wednesday, hitting C$1.90. 242,044 shares of the stock traded hands, compared to its average volume of 738,497. The stock has a market cap of C$662.98 million and a P/E ratio of 4.61. The stock's fifty day moving average is C$1.68 and its two-hundred day moving average is C$1.40. Pine Cliff Energy has a 52-week low of C$0.37 and a 52-week high of C$2.05. The company has a debt-to-equity ratio of 3.37, a current ratio of 1.44 and a quick ratio of 1.30.
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Analyst Ratings Changes
Several analysts have commented on the stock. Stifel Nicolaus raised shares of Pine Cliff Energy to a "buy" rating and increased their price target for the company from C$2.25 to C$2.30 in a research report on Thursday, June 30th. Haywood Securities cut their price objective on shares of Pine Cliff Energy from C$2.60 to C$2.40 and set an "outperform" rating on the stock in a report on Wednesday, July 27th.
Insider Activity
In other news, Senior Officer Terry Lee Mcneill sold 250,000 shares of the company's stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of C$2.02, for a total transaction of C$505,000.00. Following the transaction, the insider now owns 1,404,052 shares in the company, valued at C$2,836,185.04. In related news, Senior Officer Terry Lee Mcneill sold 250,000 shares of the stock in a transaction that occurred on Wednesday, June 8th. The shares were sold at an average price of C$2.02, for a total value of C$505,000.00. Following the transaction, the insider now owns 1,404,052 shares in the company, valued at approximately C$2,836,185.04. Also, Director Philip Blake Hodge purchased 20,000 shares of the business's stock in a transaction that occurred on Thursday, July 14th. The stock was acquired at an average price of C$1.44 per share, for a total transaction of C$28,772.00. Following the acquisition, the director now owns 9,069,500 shares in the company, valued at approximately C$13,047,382.70. Over the last 90 days, insiders have purchased 60,900 shares of company stock worth $102,629 and have sold 398,000 shares worth $780,569.
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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