Zacks Upgrades Pengrowth Energy Corp to Neutral (PGH)
Pengrowth Energy Corp (NYSE:PGH) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a research report issued on Wednesday, American Banking and Market News reports. The firm currently has a $6.30 price objective on the stock. Zacks‘ price objective would indicate a potential upside of 1.94% from the company’s current price.
Shares of Pengrowth Energy Corp (NYSE:PGH) traded down 0.97% during mid-day trading on Wednesday, hitting $6.12. 923,228 shares of the company’s stock traded hands. Pengrowth Energy Corp has a 1-year low of $3.82 and a 1-year high of $6.63. The stock has a 50-day moving average of $5. and a 200-day moving average of $5.33. The company’s market cap is $3.168 billion.
The company also recently declared a monthly dividend, which is scheduled for Tuesday, October 15th. Stockholders of record on Monday, September 23rd will be given a dividend of $0.04 per share. This represents a $0.46 dividend on an annualized basis and a yield of 7.49%. The ex-dividend date of this dividend is Thursday, September 19th.
Pengrowth Energy Corporation (NYSE:PGH) is engaged in the development, production and acquisition of, and the exploration for, oil and natural gas reserves in the provinces of Alberta, British Columbia, Saskatchewan and Nova Scotia.
To view Zacks’ full report, visit www.zacks.com
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