Pengrowth Energy Corp. (PGH) Earns Sector Perform Rating from Scotiabank
Pengrowth Energy Corp. (NYSE:PGH)‘s stock had its “sector perform” rating reiterated by equities researchers at Scotiabank in a report released on Saturday. They currently have a $2.25 target price on the stock. Scotiabank’s price objective points to a potential upside of 35.54% from the company’s previous close.
Other research analysts have also recently issued reports about the stock. Canaccord Genuity reiterated a “hold” rating on shares of Pengrowth Energy Corp. in a research report on Sunday, August 7th. Zacks Investment Research raised Pengrowth Energy Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, July 6th. BMO Capital Markets began coverage on Pengrowth Energy Corp. in a research note on Thursday, September 8th. They set a “market perform” rating for the company. TD Securities reissued a “reduce” rating and set a $1.05 price objective on shares of Pengrowth Energy Corp. in a research note on Wednesday, August 10th. Finally, RBC Capital Markets reissued an “underperform” rating and set a $1.50 price objective (up previously from $1.25) on shares of Pengrowth Energy Corp. in a research note on Wednesday, September 28th. Five equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Pengrowth Energy Corp. presently has a consensus rating of “Hold” and an average price target of $1.79.
Shares of Pengrowth Energy Corp. (NYSE:PGH) opened at 1.66 on Friday. Pengrowth Energy Corp. has a 52 week low of $0.45 and a 52 week high of $2.08. The firm’s 50-day moving average is $1.54 and its 200-day moving average is $1.57. The company’s market cap is $908.76 million.
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A number of hedge funds have recently made changes to their positions in the company. Canada Pension Plan Investment Board increased its position in Pengrowth Energy Corp. by 429.6% in the first quarter. Canada Pension Plan Investment Board now owns 4,580,175 shares of the company’s stock worth $6,020,000 after buying an additional 3,715,367 shares during the period. Acadian Asset Management LLC purchased a new position in Pengrowth Energy Corp. during the second quarter worth about $3,226,000. Vanguard Group Inc. increased its position in Pengrowth Energy Corp. by 10.3% in the second quarter. Vanguard Group Inc. now owns 9,147,246 shares of the company’s stock worth $16,831,000 after buying an additional 857,105 shares during the period. Schroder Investment Management Group purchased a new position in Pengrowth Energy Corp. during the second quarter worth about $1,991,000. Finally, Bank of Montreal Can purchased a new position in Pengrowth Energy Corp. during the second quarter worth about $1,336,000. 17.49% of the stock is owned by institutional investors.
About Pengrowth Energy Corp.
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