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Pine Cliff Energy
(TSX:PNE)
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Rating:44Neutral
Price Target:
C$0.50
▼(-13.10% Downside)
Action:Reiterated
Date:08/17/26
The score is held down primarily by weak financial performance (ongoing losses, slightly negative free cash flow, and higher leverage) and bearish technical trends (below major moving averages with negative momentum). These are partly offset by a more positive earnings-call outlook driven by effective hedging and encouraging Glauconite well economics, plus a moderate dividend yield despite limited valuation signal from a negative P/E.
Positive Factors
Glauconite inventory offers scalable, quick-payback growth
The Glauconite inventory provides a defined multi-year development runway with attractive well economics and rapid capital recovery. If execution remains disciplined, these properties can support production growth while limiting reliance on external equity or excessive borrowing.
Negative Factors
Persistent losses and declining revenue weaken earnings power
Ongoing net losses and a softer top line indicate that current assets are not generating sufficient earnings at prevailing commodity prices. Narrower losses provide some improvement, but profitability remains below prior-cycle levels and sensitive to gas-price changes.
Read all positive and negative factors
Positive Factors
Negative Factors
Glauconite inventory offers scalable, quick-payback growth
The Glauconite inventory provides a defined multi-year development runway with attractive well economics and rapid capital recovery. If execution remains disciplined, these properties can support production growth while limiting reliance on external equity or excessive borrowing.
Read all positive factors
Pine Cliff Energy (PNE) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$193.75M
Dividend Yield2.8%
Average Volume (3M)279.35K
Price to Earnings (P/E)―
Beta (1Y)0.21
Revenue Growth-7.67%
EPS Growth60.90%
CountryCA
Employees103
SectorEnergy
Sector Strength52
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)-0.02
Shares Outstanding358,795,000
10 Day Avg. Volume192,570
30 Day Avg. Volume279,348
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 TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.06
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 crude oil in the Western Canadian Sedimentary Basin. It owns working interest production in the Sundre, Ghost Pine, and Viking areas of ...
How the Company Makes Money
Pine Cliff Energy makes money primarily by producing and selling hydrocarbons—natural gas, crude oil, and associated liquids—from its Western Canadian properties. Revenue is generated when produced volumes are delivered into gathering/processing a...
Pine Cliff Energy Earnings Call Summary
Earnings Call Date:Aug 12, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 11, 2026
Earnings Call Sentiment Positive
The call highlights multiple near-term and mid-term positives: effective hedging that materially improved realized prices, a high-performing Glauconite well that is liquid-rich, a sizable low-risk inventory with attractive per-well economics and quick paybacks, maintained dividend discipline, and supportive macro tailwinds from LNG expansion and potential data center demand. Offsetting these are continued weak AECO spot pricing, export intermittency that affects storage and short-term pricing, weather risk (El Niño), and valuation/transaction uncertainty caused by commodity volatility. Management’s emphasis on funding growth from cash flow and hedges and avoiding additional equity or excessive debt reduces financial risk.Positive Updates
Realized Gas Price Premium from Hedging
Q2 realized gas price of $2.38/Mcf, a 47% premium to AECO 5A ($1.62/Mcf). Hedge book provides downside protection with ~41% of 2026 production hedged at $3.16/Mcf and ~36% hedged for Q4–Q1 at ~$3.10/Mcf.
Negative Updates
Weak and Volatile AECO Pricing
AECO remains weak (~$1.62/Mcf in Q2) and volatile; management highlighted that gas prices are still below preferred levels and are highly sensitive to LNG export intermittency and storage trends.
Read all updates
Q2-2026 Updates
Positive
Negative
Realized Gas Price Premium from Hedging
Q2 realized gas price of $2.38/Mcf, a 47% premium to AECO 5A ($1.62/Mcf). Hedge book provides downside protection with ~41% of 2026 production hedged at $3.16/Mcf and ~36% hedged for Q4–Q1 at ~$3.10/Mcf.
Read all positive updates
Company Guidance
Management guided toward prudent, cash‑flow funded growth focused on its Glauconite inventory (37 net locations, ~$300–$350M of drillable inventory) with wells costing ~$8–$9M each, NPVs of ~$8–$10M per location and expected paybacks of 12–15 months; the Board approved drilling an additional Glauc well this fall and the company targets drilling ~2–4 wells/year. Operationally the 4‑23 Glauc well averaged ~1,100 BOE/d (≈50% liquids) from Mar–Jun — ~5% of corporate production (corporate ≈20,000 BOE/d) — with initial condensate/NGLs ~20–25% of BOE. Hedging remains a key part of guidance: Q2 realized gas $2.38/Mcf (47% premium to AECO 5A $1.62), ~41% hedged for the balance of 2026 at $3.16/Mcf and ~36% hedged for Q4–Q1 at ~ $3.10/Mcf, providing cash‑flow support while maintaining the dividend. Management emphasized market context (Western Canada production ≈19 Bcf/d; LNG Canada Phase 1 ~1.8 Bcf/d, 1.8–2.0 Bcf/d swing is material; Canada could reach >7 Bcf/d LNG exports by decade‑end), current prices (AECO ≈$1.60/Mcf, NYMEX ≈$3, Asia/Europe >>$20, WTI ~$75–$83/bbl) and noted Pine Cliff is currently exempt from carbon tax as a small emitter.Pine Cliff Energy Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
43
Neutral
Cash Flow
39
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 160.70M | 163.81M | 195.63M | 176.26M | 309.99M | 167.72M |
| Gross Profit | 22.87M | -6.80M | 126.53M | 16.11M | 230.15M | 109.71M |
| EBITDA | 15.95M | 36.13M | 35.24M | 54.12M | 175.29M | 82.18M |
| Net Income | -8.76M | -12.07M | -21.45M | 9.12M | 108.94M | 81.42M |
Balance Sheet | ||||||
| Total Assets | 316.35M | 321.43M | 381.25M | 477.07M | 375.05M | 379.00M |
| Cash, Cash Equivalents and Short-Term Investments | 0.00 | 4.07M | 0.00 | 208.00K | 54.60M | 6.87M |
| Total Debt | 42.82M | 43.93M | 48.47M | 62.14M | 3.30M | 45.57M |
| Total Liabilities | 289.22M | 285.97M | 326.93M | 377.14M | 241.32M | 333.58M |
| Stockholders Equity | 27.13M | 35.46M | 54.32M | 99.93M | 133.73M | 45.42M |
Cash Flow | ||||||
| Free Cash Flow | -588.00K | 9.84M | 21.27M | -63.66M | 121.44M | 28.02M |
| Operating Cash Flow | 21.03M | 25.06M | 23.80M | 66.63M | 150.45M | 49.48M |
| Investing Cash Flow | -4.62M | 6.81M | 6.77M | -133.20M | -36.74M | -30.77M |
| Financing Cash Flow | -16.41M | -27.80M | -30.56M | 12.15M | -66.16M | -19.71M |
Pine Cliff Energy Technical Analysis
Negative
0.58
Price Trends
0.55
Negative
0.58
Negative
0.66
Negative
Market Momentum
<0.01
Negative
47.58
Neutral
20.00
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 0.58 is above the 20-day moving average (MA) of 0.54, above the 50-day MA of 0.55, and below the 200-day MA of 0.66, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 47.58 is Neutral, neither overbought nor oversold. The STOCH value of 20.00 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$619.37M | 75.69 | 5.33% | 20.75% | 42.92% | ― | |
67 Neutral | C$269.48M | -114.84 | -0.66% | 6.74% | 25.52% | -126.16% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
60 Neutral | C$486.91M | -37.35 | -3.81% | 6.02% | 78.72% | -219.22% | |
51 Neutral | C$506.18M | 23.65 | 2.93% | 15.24% | -27.27% | -79.93% | |
49 Neutral | C$357.72M | 8.33 | 57.31% | 8.00% | 39.79% | ― | |
44 Neutral | C$193.75M | -25.85 | -27.35% | 2.80% | -7.67% | 60.90% |
* Energy Sector Average
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Pine Cliff Energy Corporate Events
Business Operations and StrategyDividendsFinancial Disclosures
Pine Cliff boosts 2026 capex as Q2 funds flow rises and debt falls
Positive
Aug 12, 2026
Pine Cliff Energy reported second-quarter 2026 adjusted funds flow of $5.9 million, up from $4.9 million a year earlier, despite lower production averaging 19,747 Boe/d versus 21,236 Boe/d in 2025. The company reduced net debt by 14% to $50.8 mill...
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.