Pine Cliff Energy (TSE:PNE) Downgraded by Desjardins to “Hold”

Desjardins lowered shares of Pine Cliff Energy (TSE:PNE) from a moderate buy rating to a hold rating in a report published on Tuesday morning,Zacks.com reports.

Pine Cliff Energy Stock Performance

Shares of Pine Cliff Energy stock opened at C$0.76 on Tuesday. Pine Cliff Energy has a 12 month low of C$0.74 and a 12 month high of C$1.14. The stock’s fifty day moving average price is C$0.85 and its 200-day moving average price is C$0.89. The firm has a market cap of C$275.26 million, a P/E ratio of -18.35 and a beta of 0.37. The company has a current ratio of 0.47, a quick ratio of 1.48 and a debt-to-equity ratio of 76.74.

Pine Cliff Energy Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 31st will be issued a $0.005 dividend. This represents a $0.06 annualized dividend and a yield of 7.89%. The ex-dividend date of this dividend is Friday, March 14th. Pine Cliff Energy’s dividend payout ratio is presently -144.83%.

Insider Transactions at Pine Cliff Energy

In related news, Director Robert Brent Fryk purchased 68,500 shares of Pine Cliff Energy stock in a transaction that occurred on Tuesday, December 24th. The stock was bought at an average cost of C$0.80 per share, for a total transaction of C$54,731.50. Company insiders own 10.97% of the company’s stock.

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.