Pine Cliff Energy (TSE:PNE) Stock Rating Lowered by Desjardins

Pine Cliff Energy (TSE:PNE) was downgraded by investment analysts at Desjardins from a “moderate buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Pine Cliff Energy Stock Performance

Shares of TSE PNE opened at C$0.76 on Tuesday. The firm’s fifty day moving average is C$0.85 and its two-hundred day moving average is C$0.89. Pine Cliff Energy has a 52-week low of C$0.74 and a 52-week high of C$1.14. The company has a market cap of C$275.26 million, a P/E ratio of -18.35 and a beta of 0.37. The company has a debt-to-equity ratio of 76.74, a quick ratio of 1.48 and a current ratio of 0.47.

Insiders Place Their Bets

In other Pine Cliff Energy news, Director Robert Brent Fryk purchased 68,500 shares of the stock in a transaction that occurred on Tuesday, December 24th. The stock was purchased at an average price of C$0.80 per share, with a total value of C$54,731.50. Corporate insiders own 10.97% of the company’s stock.

Pine Cliff Energy Company Profile

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.