Pine Cliff Energy Ltd. (PNE) Trading Down 1.7%
Pine Cliff Energy Ltd. (TSE:PNE)’s share price dropped 1.7% on Monday . The stock traded as low as C$0.58 and last traded at C$0.59. Approximately 89,275 shares were traded during trading, a decline of 73% from the average daily volume of 334,976 shares. The stock had previously closed at C$0.60.
Several equities analysts have commented on PNE shares. Clarus Securities reiterated a “buy” rating on shares of Pine Cliff Energy in a report on Tuesday, October 24th. TD Securities lowered their price target on Pine Cliff Energy from C$0.85 to C$0.80 and set a “hold” rating on the stock in a report on Friday, August 11th. Finally, Industrial Alliance Securities downgraded Pine Cliff Energy from a “buy” rating to a “hold” rating in a report on Friday, October 27th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of C$1.18.
In other Pine Cliff Energy news, insider Robert Disbrow bought 125,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were acquired at an average cost of C$0.60 per share, with a total value of C$75,000.00. Over the last ninety days, insiders purchased 437,500 shares of company stock valued at $262,885.
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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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