Pine Cliff Energy Ltd (PNE) Receives C$1.31 Consensus Price Target from Analysts

Shares of Pine Cliff Energy Ltd (TSE:PNE) have received an average recommendation of “Hold” from the eight analysts that are covering the company. Three investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is C$1.31.

Several analysts recently commented on PNE shares. Canaccord Genuity reduced their price objective on shares of Pine Cliff Energy from C$1.75 to C$1.50 in a research note on Wednesday, March 15th. CIBC reduced their price objective on shares of Pine Cliff Energy from C$1.15 to C$1.05 in a research note on Wednesday, January 25th. TD Securities reiterated a “buy” rating and issued a C$1.10 price objective on shares of Pine Cliff Energy in a research note on Thursday, March 16th. Finally, National Bank Financial cut their target price on shares of Pine Cliff Energy from C$1.35 to C$1.05 and set a “sector perform” rating for the company in a research report on Thursday, February 2nd.

Pine Cliff Energy (TSE:PNE) remained flat at $0.74 on Tuesday. 153,660 shares of the company traded hands. The firm’s market capitalization is $227.24 million. Pine Cliff Energy has a 1-year low of $0.64 and a 1-year high of $1.22. The firm has a 50-day moving average of $0.74 and a 200 day moving average of $0.94.

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In other news, insider Robert Disbrow purchased 88,500 shares of the stock in a transaction dated Tuesday, February 21st. The stock was acquired at an average cost of C$0.78 per share, for a total transaction of C$69,030.00. Over the last quarter, insiders have bought 511,400 shares of company stock valued at $394,676.

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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