Pine Cliff Energy Ltd. Declares Monthly Dividend of $0.01 (TSE:PNE)

Pine Cliff Energy Ltd. (TSE:PNE) declared a monthly dividend on Wednesday, May 1st, Zacks reports. Shareholders of record on Wednesday, May 15th will be given a dividend of 0.005 per share on Friday, May 31st. This represents a $0.06 dividend on an annualized basis and a yield of 6.06%. The ex-dividend date is Tuesday, May 14th.

Pine Cliff Energy Stock Performance

TSE PNE remained flat at C$0.99 during trading hours on Friday. 147,711 shares of the company traded hands, compared to its average volume of 329,895. Pine Cliff Energy has a 12 month low of C$0.94 and a 12 month high of C$1.68. The firm has a market capitalization of C$352.84 million, a price-to-earnings ratio of 33.00 and a beta of 0.49. The company has a debt-to-equity ratio of 62.18, a current ratio of 0.48 and a quick ratio of 1.48. The stock has a 50 day simple moving average of C$1.01 and a two-hundred day simple moving average of C$1.27.

Insider Activity at Pine Cliff Energy

In other Pine Cliff Energy news, Director Philip Blake Hodge acquired 25,000 shares of the stock in a transaction on Thursday, March 7th. The stock was acquired at an average price of C$1.02 per share, for a total transaction of C$25,402.50. 10.84% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Desjardins lowered their target price on shares of Pine Cliff Energy from C$1.25 to C$1.20 and set a “buy” rating on the stock in a research note on Tuesday, April 23rd. Canaccord Genuity Group cut their target price on Pine Cliff Energy from C$1.40 to C$1.20 and set a “buy” rating for the company in a research report on Wednesday, April 17th. Finally, Stifel Nicolaus lowered their price target on Pine Cliff Energy from C$1.50 to C$1.40 and set a “hold” rating on the stock in a report on Wednesday, March 6th.

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.