Stifel Nicolaus Raises Pine Cliff Energy (TSE:PNE) Price Target to C$2.25

Pine Cliff Energy (TSE:PNE – Get Rating) had its price target raised by equity researchers Stifel Nicolaus from C$1.30 to C$2.25 in a research report released Friday to clients and investors, BayStreet.CA reports. Stifel Nicolaus’ target price indicates a potential upside of 20.32% from the stock’s previous close.

PNE stock traded at C$0.01 at midday on Friday, hitting C$1.87. 1,035,793 shares of the company were traded, with an average volume of 622,482. The company has a market capitalization of C$634.94 million and a PE ratio of 8.17. The company has a current ratio of 0.72, a quick ratio of 0.64 and a debt ratio of 100.34. Pine Cliff Energy has a 12-month low of CA$0.28 and a 12-month high of CA$1.88. The company has a fifty-day simple moving average of C$1.27 and a 200-day simple moving average of C$0.92.

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

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In other Pine Cliff Energy news, insider Robert Disbrow purchased 50,000 shares of the company in a trade dated Monday, April 25. The shares were acquired at an average cost of CA$1.42 per share, with a total value of CA$71,000.00. As a result of the acquisition, the insider now owns 20,774,750 shares of the company, valued at approximately C$29,500,145. 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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