Pine Cliff Energy (TSE:PNE) price target raised to C$2.25

Pine Cliff Energy (TSE:PNE – Get Rating) had its price target raised by Stifel Nicolaus from CA$1.30 to CA$2.25 in a research note released Friday morning, BayStreet.CA reports.

TSE PNE traded at C$0.03 during Friday trading hours, hitting C$1.84. The company had a trading volume of 1,169,959 shares, compared to an average volume of 625,877. Pine Cliff Energy has a fifty-two week low of C$0.28 and a fifty-two week high of 1, $88 CAD. The company has a market capitalization of C$624.75 million and a P/E ratio of 8.00. The company has a 50-day simple moving average of C$1.29 and a 200-day simple moving average of C$0.92. The company has a quick ratio of 0.64, a current ratio of 0.72 and a debt ratio of 100.34.

Pine Cliff Energy (TSE:PNE – Get Rating) last reported quarterly earnings data on Tuesday, March 8. The company reported earnings per share (EPS) of C$0.23 for the quarter, beating the consensus estimate of C$0.03 by C$0.20. The company recorded revenue of C$54.41 million during the quarter. Stock analysts expect Pine Cliff Energy to post -0.04 EPS for the current fiscal year.

Separately, insider Robert Disbrow acquired 50,000 shares in a trade dated Wednesday, February 16. The shares were acquired at an average price of CA$0.80 per share, with a total value of CA$40,000.00. As a result of the acquisition, the insider now owns 21,438,000 shares of the company, valued at approximately C$17,150,400. Over the past ninety days, insiders have bought 296,000 shares of the company worth $299,808 and sold 350,000 shares worth $478,145.

Pine Cliff Energy Company Profile (Get a rating)

Pine Cliff Energy Ltd. engages in the acquisition, exploration, development and production of natural gas and petroleum in the Western Canadian Sedimentary Basin. It primarily holds interests in natural gas assets in the Southern and Edson regions; and oil and gas assets in the Viking Kinsella and Ghost Pine area of ​​central Alberta.

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