Pine Cliff Energy Ltd. (TSE:PNE – Get Rating) declared a monthly dividend on Friday, August 12th, TickerTech reports. Stockholders 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 is Friday, August 12th. This is a positive change from Pine Cliff Energy's previous monthly dividend of $0.0083.
Pine Cliff Energy Stock Performance
TSE:PNE traded up C$0.01 during midday trading on Wednesday, hitting C$1.90. The company's stock had a trading volume of 242,044 shares, compared to its average volume of 738,497. Pine Cliff Energy has a fifty-two week low of C$0.37 and a fifty-two week high of C$2.05. The firm's 50 day moving average is C$1.68 and its 200-day moving average is C$1.40. The company has a debt-to-equity ratio of 3.37, a current ratio of 1.44 and a quick ratio of 1.30. The firm has a market cap of C$662.98 million and a P/E ratio of 4.61.
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Insider Transactions at Pine Cliff Energy
In other news, insider Robert Disbrow sold 15,000 shares of the firm's stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of C$2.01, for a total transaction of C$30,091.50. Following the sale, the insider now owns 20,037,650 shares of the company's stock, valued at approximately C$40,197,529.67. In related news, Director Philip Blake Hodge acquired 20,000 shares of the firm's stock in a transaction on Thursday, July 14th. The shares were acquired at an average cost of C$1.44 per share, with a total value of C$28,772.00. Following the completion of the acquisition, the director now directly owns 9,069,500 shares in the company, valued at approximately C$13,047,382.70. Also, insider Robert Disbrow sold 15,000 shares of Pine Cliff Energy stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of C$2.01, for a total transaction of C$30,091.50. Following the completion of the sale, the insider now owns 20,037,650 shares in the company, valued at approximately C$40,197,529.67. In the last 90 days, insiders have bought 60,900 shares of company stock valued at $102,629 and have sold 398,000 shares valued at $780,569.
Analysts Set New Price Targets
Several equities analysts recently weighed in on PNE shares. Stifel Nicolaus upgraded shares of Pine Cliff Energy to a "buy" rating and increased their price target for the stock from C$2.25 to C$2.30 in a report on Thursday, June 30th. Haywood Securities cut their price target 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.
Pine Cliff Energy Company Profile
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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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