Pine Cliff Energy (TSE:PNE) Share Price Passes Above 50 Day Moving Average – Here’s Why

Pine Cliff Energy Ltd. (TSE:PNE) shares crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$0.87 and traded as high as C$0.89. Pine Cliff Energy shares last traded at C$0.89, with a volume of 213,410 shares changing hands.

Pine Cliff Energy Trading Up 7.2 %

The company has a debt-to-equity ratio of 81.31, a current ratio of 0.50 and a quick ratio of 1.48. The company has a market cap of C$318.53 million, a P/E ratio of -89.00 and a beta of 0.37. The stock’s 50-day moving average is C$0.87 and its two-hundred day moving average is C$0.94.

Pine Cliff Energy Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.005 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 6.74%. Pine Cliff Energy’s dividend payout ratio (DPR) is currently -600.00%.

About Pine Cliff Energy

Pine Cliff Energy Ltd. engages in the acquisition, exploration, development, and production of natural gas and crude oil in the Western Canadian Sedimentary Basin. The company primarily holds interest in oil and gas properties in the Viking and Ghost Pine area of Central Alberta, as well as in the Southern Alberta, Southern Saskatchewan, and Edson areas.