Pine Cliff Energy (PNE) AI Stock Analysis

• Market Cap: $240.39M
• Dividend Yield: 3.16%
• Average Volume (3M): 199.22K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.47
• Revenue Growth: -6.56%
• EPS Growth: -42.28%
• Country: CA
• Employees: 103
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Exploration & Production
• EPS (TTM): 0.01
• Shares Outstanding: 358,791,560
• 10 Day Avg. Volume: 152,467
• 30 Day Avg. Volume: 199,224
• PEG Ratio: 0.55
• Price to Book (P/B): 8.19
• Price to Sales (P/S): 1.77
• P/FCF Ratio: 29.52
• Enterprise Value/Market Cap: 1.17
• Enterprise Value/Revenue: 1.60
• Enterprise Value/Gross Profit: 3.17
• Enterprise Value/Ebitda: 17.99
• 1Y Price Target: $0.90
• Price Target Upside: 34.43% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): 0.05
• Revenue Forecast (FY): N/A

• Rating: 49 Neutral
• Price Target: C$0.68 ▲(1.04% Upside)
• Action: Reiterated Date: 03/06/26
• Date: Action: Reiterated 03/06/26

The score is held back primarily by weakened profitability (losses and volatility) and a thinner balance-sheet cushion (lower equity and higher debt-to-equity), despite still-positive operating/free cash flow. Technicals further weigh on the outlook as the stock trades below key moving averages with negative momentum. Valuation is mixed: the negative P/E reflects losses, while the ~2.76% dividend yield is a modest offset.

Positive Factors

Positive operating & free cash flow

Sustained positive operating cash flow and FCF provide a durable internal funding source for maintenance capex, modest dividends, and debt servicing. For an E&P, recurring cash generation across cycles improves resilience and reduces reliance on external financing for 2–6 month to multi-quarter operational plans.

Strong gross and EBITDA margins

High gross margins indicate efficient lifting and processing economics and favourable netbacks on produced volumes. Positive EBITDA margin shows core operations generate earnings before noncash DDA and financing, supporting mid-term reinvestment and incremental returns when volumes or prices recover.

Low absolute debt burden

Relatively low total debt in absolute terms gives the company flexibility to finance near-term development, absorb price swings, or pay down liabilities without immediate refinancing pressure. That structural low-dollar leverage supports operational continuity in a cyclical industry.

Negative Factors

Return to losses & margin deterioration

Recurring operating losses weaken the company’s ability to self-fund growth, reduce retained earnings, and strain long-term profitability outlook. Persistent negative operating profit limits capital allocation flexibility and increases reliance on commodity price improvements or external capital to restore sustainable earnings.

Compressed equity & higher leverage ratio

A shrinking capital base and materially higher debt-to-equity reduce the balance-sheet cushion against commodity shocks and raise financial risk. Elevated leverage relative to recent years limits borrowing capacity, increases refinancing and covenant risk, and constrains strategic moves like M&A or larger development programs.

Declining revenue and FCF contraction

Falling top-line and a near halving of year-over-year free cash flow signal weaker operational momentum and lower cash conversion. This reduces headroom for capital projects, discretionary payouts, and debt reduction, making the business more sensitive to prolonged commodity-price or volume weakness.

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 oil and natural gas assets in the Viking Kinsella and Ghost Pine area of Central Alberta. The coampny also holds interests in natural gas liquids assets in the Sundance, Carstairs, Garrington, and Harmattan areas of Alberta; and natural gas assets in the Cadillac area of Southern Saskatchewan. As of December 31, 2021, its proved reserves consisted 49,112.6 thousand barrels of oil equivalent (MBOE) and proved plus probable reserves included 62,813.4 MBOE. It also explores for gold, nickel, and copper deposits, as well as platinum group elements in Utah, Ontario, the Northwest Territories, and Nunavut. The company was incorporated in 2004 and is headquartered in Calgary, Canada.

How the Company Makes Money

Pine Cliff Energy makes money through the production and sale of natural gas, oil, and natural gas liquids. The company's revenue model is primarily based on the extraction and sale of these resources from its operated and non-operated properties. Key revenue streams include the sale of produced natural gas, which constitutes a significant portion of its income, followed by revenues from oil and natural gas liquids. Pine Cliff Energy's earnings are influenced by factors such as commodity prices, production volumes, and operational efficiencies. The company may also engage in strategic acquisitions or divestitures to optimize its portfolio and enhance cash flow. While Pine Cliff Energy may have partnerships or joint ventures to facilitate operations, specific details on such collaborations are not provided.

Pine Cliff Energy Financial Statement Overview

Summary

Fundamentals are mixed. Profitability has deteriorated versus 2021–2022 and the company is back to losses (TTM net margin -11.8%) with negative operating profit, though gross margin (~65.7%) and EBITDA margin (~15.1%) remain positive. Cash flow is a relative strength with positive operating cash flow (~$25.1M) and free cash flow (~$10.3M), but FCF is down sharply vs 2024 (-49.6%). Balance-sheet risk has risen as equity has fallen (~$35.5M TTM) and debt-to-equity is elevated (~1.37).

Income Statement

Profitability has deteriorated meaningfully versus the 2021–2022 peak. TTM (Trailing-Twelve-Months) revenue is down (-4.1%) and the company is back to losses (net margin -11.8%) with negative operating profit, despite still posting a solid gross margin (~65.7%) and positive EBITDA margin (~15.1%). Results have been volatile across the cycle (strong profits in 2021–2022, modest profit in 2023, losses in 2024 and TTM), which lowers confidence in earnings stability.

Balance Sheet

Leverage appears manageable in absolute dollars (TTM total debt ~$6.9M), but the capital base has compressed: equity is down to ~$35.5M versus ~$54.3M in 2024 and ~$99.9M in 2023, alongside negative returns on equity in 2024 and TTM. The debt-to-equity level is elevated in TTM (~1.37) versus 2023 (~0.62), signaling weaker balance-sheet cushion than prior years even though total debt has been reduced sharply from 2023–2024 levels.

Cash Flow

Cash generation remains a relative bright spot: TTM operating cash flow is positive (~$25.1M) and free cash flow is also positive (~$10.3M). However, free cash flow is down sharply versus 2024 (growth -49.6%), indicating reduced cash conversion year over year. Cash flow is also somewhat inconsistent across years (notably negative free cash flow in 2023), though recent periods show the business still producing cash despite accounting losses.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	163.81M	195.63M	176.26M	309.99M	167.72M
Gross Profit	-6.80M	126.53M	16.11M	230.15M	109.71M
EBITDA	-19.88M	35.24M	54.12M	175.29M	82.18M
Net Income	-12.07M	-21.45M	9.12M	108.94M	81.42M
Balance Sheet
Total Assets	321.43M	381.25M	477.07M	375.05M	379.00M
Cash, Cash Equivalents and Short-Term Investments	4.07M	0.00	208.00K	54.60M	6.87M
Total Debt	43.93M	48.47M	62.14M	3.30M	45.57M
Total Liabilities	285.97M	326.93M	377.14M	241.32M	333.58M
Stockholders Equity	35.46M	54.32M	99.93M	133.73M	45.42M
Cash Flow
Free Cash Flow	9.84M	21.27M	-63.66M	121.44M	28.02M
Operating Cash Flow	25.06M	23.80M	66.63M	150.45M	49.48M
Investing Cash Flow	6.81M	6.77M	-133.20M	-36.74M	-30.77M
Financing Cash Flow	-27.80M	-30.56M	12.15M	-66.16M	-19.71M

Pine Cliff Energy Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.67
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: 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 0.67 is below the 20-day moving average (MA) of 0.70, below the 50-day MA of 0.75, and below the 200-day MA of 0.70, indicating a bearish trend. The MACD of -0.02 indicates Negative momentum. The RSI at 40.65 is Neutral, neither overbought nor oversold. The STOCH value of 33.33 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
PRQ	63 Neutral	C$269.84M	-20.08	0.20%	6.19%	-8.58%	-98.92%
TAL	63 Neutral	C$442.79M	27.33	14.69%	21.85%	-2.90%	-31.97%
IPO	53 Neutral	C$461.39M	-38.65	-2.22%	12.70%	53.79%	-126.63%
PNE	49 Neutral	$240.39M	-24.06	-43.41%	3.16%	-6.56%	-42.28%
CVVY	48 Neutral	C$331.57M	-5.33	-16.16%	―	-15.50%	-58.23%
GASX	40 Underperform	C$410.77M	-6.97	-79.56%	―	5.13%	61.58%

Pine Cliff Energy Corporate Events

Pine Cliff Energy Declares February Monthly Dividend

Pine Cliff Energy Ltd. has declared a regular monthly dividend of $0.00125 per common share, payable on February 27, 2026 to shareholders of record as of February 13, 2026, and has indicated that this and future dividends are expected to be treated as non-eligible dividends for Canadian tax purposes until further notice, underscoring the company’s ongoing commitment to returning cash to shareholders. The announcement reinforces Pine Cliff’s strategy of providing consistent income to investors, which may enhance its appeal among income-focused shareholders and signal financial stability within the broader Canadian oil and gas industry despite commodity price volatility.

The most recent analyst rating on (TSE:PNE) stock is a Hold with a C$0.73 price target. To see the full list of analyst forecasts on Pine Cliff Energy stock, see the TSE:PNE Stock Forecast page.

Pine Cliff Energy Maintains Monthly Dividend for January 2026

Pine Cliff Energy Ltd. has declared a regular monthly dividend of $0.00125 per common share, payable on January 30, 2026 to shareholders of record as of January 15, 2026, and indicated that this and future payouts are expected to be treated as non-eligible dividends for Canadian tax purposes. The decision underscores the company’s continued commitment to returning capital to investors through a stable dividend program, signaling confidence in its cash flow generation and reinforcing its positioning as an income-focused energy producer in the Canadian oil and gas sector.

The most recent analyst rating on (TSE:PNE) stock is a Hold with a C$0.82 price target. To see the full list of analyst forecasts on Pine Cliff Energy stock, see the TSE:PNE Stock Forecast page.