Pine Cliff Energy (TSE:PNE) Stock Price Down 2.6% – Here’s What Happened

Shares of Pine Cliff Energy Ltd. (TSE:PNEGet Free Report) traded down 2.6% during mid-day trading on Tuesday . The stock traded as low as C$0.74 and last traded at C$0.74. 278,040 shares changed hands during mid-day trading, a decline of 29% from the average session volume of 391,078 shares. The stock had previously closed at C$0.76.

Pine Cliff Energy Price Performance

The company has a debt-to-equity ratio of 76.74, a current ratio of 0.47 and a quick ratio of 1.48. The stock has a market capitalization of C$265.51 million, a P/E ratio of -12.33 and a beta of -0.19. The stock’s fifty day moving average is C$0.84 and its 200-day moving average is C$0.72.

Pine Cliff Energy (TSE:PNEGet Free Report) last announced its quarterly earnings results on Wednesday, November 5th. The company reported C($0.02) earnings per share for the quarter. The company had revenue of C$37.61 million during the quarter. Pine Cliff Energy had a negative return on equity of 18.45% and a negative net margin of 8.28%. On average, equities analysts anticipate that Pine Cliff Energy Ltd. will post 0.0099907 earnings per share for the current year.

Pine Cliff Energy Announces Dividend

The business also recently announced a monthly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 31st were issued a $0.0013 dividend. This represents a c) annualized dividend and a yield of 2.1%. The ex-dividend date was Monday, December 15th. Pine Cliff Energy’s payout ratio is -56.25%.

Insider Transactions at Pine Cliff Energy

In related news, Director Robert Brent Fryk purchased 50,000 shares of the stock in a transaction on Friday, November 14th. The shares were bought at an average price of C$0.82 per share, for a total transaction of C$41,000.00. Following the completion of the acquisition, the director directly owned 100,000 shares in the company, valued at approximately C$82,000. This trade represents a 100.00% increase in their position. Insiders purchased a total of 75,000 shares of company stock worth $61,240 over the last three months. 10.97% of the stock is owned by corporate insiders.

About Pine Cliff Energy

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