Pine Cliff Energy (TSE:PNE)
TSX:PNE
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Pine Cliff Energy
(TSX:PNE)
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Rating:46Neutral
Price Target:
C$0.61
▲(1.33% Upside)
Action:Reiterated
Date:05/09/26
The score is held down primarily by weak financial performance (net losses, deteriorating profitability, and elevated leverage) and bearish technicals (price below key moving averages with negative MACD). Offsetting factors include positive operating/free cash flow, a modest dividend yield, and a measured-but-constructive earnings call highlighting disciplined execution and hedging to support near-term cash flows.
Positive Factors
Cash generation
Sustained positive operating cash flow and modest positive free cash flow provide an internal funding base to support selective drilling, pay the dividend, and reduce debt without relying solely on external financing. This cash generation cushions the business through commodity cycles and supports long-term capital allocation discipline, though shrinking FCF growth highlights the need to defend margins and optimize reinvestment.
Negative Factors
Elevated leverage
Leverage materially above equity reduces financial flexibility and increases exposure to rising interest costs or sales disruptions. Over the medium term this constrains capital allocation choices, forces prioritization of debt service over growth, and raises execution risk if commodity prices decline or if cash generation weakens, potentially pressuring the dividend and growth plans.
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Positive Factors
Negative Factors
Cash generation
Sustained positive operating cash flow and modest positive free cash flow provide an internal funding base to support selective drilling, pay the dividend, and reduce debt without relying solely on external financing. This cash generation cushions the business through commodity cycles and supports long-term capital allocation discipline, though shrinking FCF growth highlights the need to defend margins and optimize reinvestment.
Read all positive factors
Pine Cliff Energy (PNE) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$218.86M
Dividend Yield3.16%
Average Volume (3M)199.22K
Price to Earnings (P/E)―
Beta (1Y)0.37
Revenue Growth-10.58%
EPS Growth43.44%
CountryCA
Employees103
SectorEnergy
Sector Strength52
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)-0.03
Shares Outstanding358,792,000
10 Day Avg. Volume152,467
30 Day Avg. Volume199,224
Financial Highlights & Ratios
PEG Ratio0.55
Price to Book (P/B)8.19
Price to Sales (P/S)1.77
P/FCF Ratio29.52
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$0.90Price Target Upside50.00% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.01
Revenue Forecast (FY)N/A
Pine Cliff Energy Business Overview & Revenue Model
Company Description
Pine Cliff Energy Ltd. engages in the acquisition, exploration, development, and production of natural gas and oil in the Western Canadian Sedimentary Basin. It primarily holds interests in natural gas assets in the Southern and Edson areas; and o...
How the Company Makes Money
Pine Cliff Energy makes money by producing hydrocarbons and selling them into Canadian energy markets. Its primary revenue stream is the sale of natural gas, with additional revenue from crude oil and NGLs; reported petroleum and natural gas sales...
Pine Cliff Energy Earnings Call Summary
Earnings Call Date:Mar 04, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Aug 05, 2026
Earnings Call Sentiment Positive
The call presents a cautiously optimistic view: operational execution and financial discipline are clear positives (on-budget drilling, expanded Glauc inventory, hedges protecting cash, and a strong dividend track record). Commercial opportunities (data center interest) and recent AECO strength are encouraging, while short-term risks include an unstabilized new well, project timing dependent on third-party financing, AECO volatility, limited LNG export capacity, and geopolitical/regulatory uncertainty. Overall, the positives (execution, hedging, dividends, and commercial pipeline) outweigh the short-term operational and market risks.Positive Updates
Glauc Program Expansion and Successful Execution
Increased Glauconite inventory to 22 net locations; recently drilled the 4-23 Glauc well that was executed ahead of schedule and with costs essentially on budget. Well has been on production for ~2 weeks and early results are encouraging (still in cleanup and not yet stabilized). Infrastructure (sales pipeline and site work) installed to support this and future wells.
Negative Updates
Glauc Well Production Still Uncertain
The recently drilled Glauc well remains in very early cleanup and has not reached a stabilized production rate; management declined to provide firm production guidance until a longer production history is established.
Read all updates
Q4-2025 Updates
Positive
Negative
Glauc Program Expansion and Successful Execution
Increased Glauconite inventory to 22 net locations; recently drilled the 4-23 Glauc well that was executed ahead of schedule and with costs essentially on budget. Well has been on production for ~2 weeks and early results are encouraging (still in cleanup and not yet stabilized). Infrastructure (sales pipeline and site work) installed to support this and future wells.
Read all positive updates
Company Guidance
Guidance from the call was modest and measured: Pine Cliff has increased its Glauconite inventory to 22 net locations and brought the 4-23 Glauc well (drilled in December) onstream in mid‑February—drilled ahead of schedule, on budget for well and Q4 infrastructure, and now in ~2 weeks of early cleanup so rates are not yet stabilized; management expects any new Central Alberta/Glauc drilling to occur in Q3–Q4 but will retain flexibility. Financially, the company is ~80% gas, with 37% of gross natural gas hedged at about $3.19/Mcf for 2026 and ~31% of crude hedged at ~US$63.45; AECO was around $2/Mcf recently (European gas >$12/Mcf) and WTI was ~$78–79/bbl (each US$1/bbl change in WTI ≈ $1.4M annual cash flow to Pine Cliff). Management said LNG Canada Phase 1 is ~2 Bcf/d (Phase 2 could take total to ~4 Bcf/d), North American LNG is ~20 Bcf/d today with announced projects potentially >40 Bcf/d in future, data‑center buyers are close to financing (no construction yet, possibly in the next few quarters), and the company will prioritize reducing debt, funding drilling, and maintaining the dividend (over $100M paid, ~ $0.30/share since summer 2022).Pine Cliff Energy Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
44
Neutral
Cash Flow
52
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 165.73M | 163.81M | 195.63M | 176.26M | 309.99M | 167.72M |
| Gross Profit | 55.34M | -6.80M | 126.53M | 16.11M | 230.15M | 109.71M |
| EBITDA | 15.05M | -19.88M | 35.24M | 54.12M | 175.29M | 82.18M |
| Net Income | -10.98M | -12.07M | -21.45M | 9.12M | 108.94M | 81.42M |
Balance Sheet | ||||||
| Total Assets | 317.98M | 321.43M | 381.25M | 477.07M | 375.05M | 379.00M |
| Cash, Cash Equivalents and Short-Term Investments | 3.30M | 4.07M | 0.00 | 208.00K | 54.60M | 6.87M |
| Total Debt | 42.78M | 43.93M | 48.47M | 62.14M | 3.30M | 45.57M |
| Total Liabilities | 285.00M | 285.97M | 326.93M | 377.14M | 241.32M | 333.58M |
| Stockholders Equity | 32.98M | 35.46M | 54.32M | 99.93M | 133.73M | 45.42M |
Cash Flow | ||||||
| Free Cash Flow | 4.74M | 9.84M | 21.27M | -63.66M | 121.44M | 28.02M |
| Operating Cash Flow | 25.83M | 25.06M | 23.80M | 66.63M | 150.45M | 49.48M |
| Investing Cash Flow | -3.05M | 6.81M | 6.77M | -133.20M | -36.74M | -30.77M |
| Financing Cash Flow | -19.48M | -27.80M | -30.56M | 12.15M | -66.16M | -19.71M |
Pine Cliff Energy Technical Analysis
Negative
0.60
Price Trends
0.65
Negative
0.69
Negative
0.70
Negative
Market Momentum
-0.01
Negative
42.27
Neutral
23.89
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:PNE, the sentiment is Negative. The current price of 0.6 is below the 20-day moving average (MA) of 0.62, below the 50-day MA of 0.65, and below the 200-day MA of 0.70, indicating a bearish trend. The MACD of -0.01 indicates Negative momentum. The RSI at 42.27 is Neutral, neither overbought nor oversold. The STOCH value of 23.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:PNE.
Pine Cliff Energy Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | C$542.99M | 6.13 | 5.39% | 21.85% | -29.99% | -70.33% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
59 Neutral | C$470.94M | 27.41 | -2.71% | ― | 29.68% | 89.77% | |
58 Neutral | C$268.32M | -4.87 | -0.27% | 6.19% | 8.02% | -80.95% | |
48 Neutral | C$494.29M | -3.65 | -10.86% | 12.70% | 119.35% | -533.65% | |
46 Neutral | C$218.86M | -37.03 | -31.31% | 3.16% | -10.58% | 43.44% | |
44 Neutral | C$482.51M | -8.74 | -81.43% | ― | 22.31% | ― |
* Energy Sector Average
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Pine Cliff Energy Corporate Events
Business Operations and StrategyDividends
Pine Cliff Energy posts strong Glauconite well results and maintains April dividend
Positive
Mar 26, 2026
Pine Cliff Energy Ltd. reported initial production results from a newly completed Glauconite well in the Caroline area of Central Alberta, which averaged about 1,167 Boe/d over the past 30 days and 1,220 Boe/d over the last week, with liquids maki...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.