Pine Cliff Energy Ltd (TSE:PNE) – Equities research analysts at Cormark dropped their Q3 2019 earnings estimates for shares of Pine Cliff Energy in a report issued on Monday, August 12th. Cormark analyst A. Arif now forecasts that the company will post earnings of ($0.05) per share for the quarter, down from their previous estimate of ($0.03). Cormark also issued estimates for Pine Cliff Energy’s Q4 2019 earnings at ($0.04) EPS, FY2019 earnings at ($0.17) EPS, Q1 2020 earnings at ($0.02) EPS, Q2 2020 earnings at ($0.04) EPS, Q3 2020 earnings at ($0.04) EPS, Q4 2020 earnings at ($0.03) EPS and FY2020 earnings at ($0.12) EPS.
Other equities research analysts also recently issued reports about the company. GMP Securities reduced their price target on Pine Cliff Energy from C$0.20 to C$0.15 in a report on Wednesday, August 7th. CIBC reduced their price target on Pine Cliff Energy from C$0.50 to C$0.25 in a report on Thursday, July 18th. TD Securities reduced their price objective on Pine Cliff Energy from C$0.20 to C$0.15 and set a “hold” rating on the stock in a report on Thursday, August 8th. Canaccord Genuity reduced their price objective on Pine Cliff Energy from C$0.50 to C$0.30 in a report on Tuesday, July 9th. Finally, National Bank Financial set a C$0.30 price objective on Pine Cliff Energy and gave the stock a “sector perform” rating in a report on Friday, May 10th.
In related news, insider Robert Disbrow bought 450,000 shares of the company’s stock in a transaction on Monday, June 10th. The shares were acquired at an average price of C$0.18 per share, with a total value of C$81,000.00. Following the transaction, the insider now owns 19,162,083 shares of the company’s stock, valued at C$3,449,174.94. Insiders have acquired a total of 725,000 shares of company stock worth $118,200 in the last ninety days.
About Pine Cliff Energy
Pine Cliff Energy Ltd. engages in the acquisition, exploration, development, and production of natural gas, crude oil, and natural gas liquids in the Western Canadian Sedimentary Basin. The company primarily holds interests in natural gas assets in the Southern and Edson areas; and oil and natural gas assets in the Viking Kinsella and Ghost Pine area of Central Alberta.
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