Pine Cliff Energy Ltd (TSE:PNE) hit a new 52-week low on Wednesday after Canaccord Genuity lowered their price target on the stock from C$0.80 to C$0.60. The company traded as low as C$0.27 and last traded at C$0.27, with a volume of 294000 shares trading hands. The stock had previously closed at C$0.27.
Other equities research analysts have also issued research reports about the stock. Desjardins cut their target price on shares of Pine Cliff Energy from C$0.50 to C$0.40 in a research note on Wednesday, February 14th. CIBC cut their target price on shares of Pine Cliff Energy from C$0.50 to C$0.40 in a research note on Tuesday, January 23rd. Finally, National Bank Financial cut their target price on shares of Pine Cliff Energy from C$0.50 to C$0.30 and set a “sector perform” rating on the stock in a research note on Wednesday.
In related news, insider Robert Disbrow bought 75,000 shares of the business’s stock in a transaction dated Friday, January 12th. The shares were purchased at an average price of C$0.36 per share, with a total value of C$27,000.00. Insiders have bought a total of 854,000 shares of company stock worth $287,795 in the last ninety days.
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About Pine Cliff Energy
Pine Cliff Energy Ltd. (Pine Cliff) is a Canada-based oil and gas exploration and production company. The Company is engaged in the exploration, development and production of oil and natural gas in the Western Canadian Sedimentary Basin (WCSB). It is also involved in the exploration for precious metals through its subsidiaries.
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