Pengrowth Energy Corp. (PGH) Receives Hold Rating from Canaccord Genuity
Pengrowth Energy Corp. (NYSE:PGH)‘s stock had its “hold” rating restated by equities researchers at Canaccord Genuity in a research report issued on Saturday. They presently have a $2.40 price target on the stock, up from their previous price target of $2.15. Canaccord Genuity’s price target would indicate a potential upside of 44.58% from the stock’s previous close.
A number of other research firms have also recently issued reports on PGH. RBC Capital Markets restated an “underperform” rating and set a $1.50 price objective (up previously from $1.25) on shares of Pengrowth Energy Corp. in a report on Wednesday, September 28th. Scotiabank restated a “sector perform” rating and set a $2.25 price objective on shares of Pengrowth Energy Corp. in a report on Wednesday, August 10th. TD Securities restated a “reduce” rating and set a $1.05 price objective on shares of Pengrowth Energy Corp. in a report on Wednesday, August 10th. Zacks Investment Research upgraded Pengrowth Energy Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, July 6th. Finally, BMO Capital Markets assumed coverage on Pengrowth Energy Corp. in a report on Thursday, September 8th. They issued a “market perform” rating for the company. Five investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $1.79.
Shares of Pengrowth Energy Corp. (NYSE:PGH) opened at 1.66 on Friday. The company’s market capitalization is $908.76 million. Pengrowth Energy Corp. has a 12-month low of $0.45 and a 12-month high of $2.08. The company has a 50-day moving average price of $1.54 and a 200 day moving average price of $1.57.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/08/pengrowth-energy-corp-pgh-receives-hold-rating-from-canaccord-genuity.html
Large investors have recently modified their holdings of the company. Canada Pension Plan Investment Board boosted its stake in shares of 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 acquired a new position in shares of Pengrowth Energy Corp. during the second quarter valued at about $3,226,000. Vanguard Group Inc. raised its position in shares of Pengrowth Energy Corp. by 10.3% in the second quarter. Vanguard Group Inc. now owns 9,147,246 shares of the company’s stock valued at $16,831,000 after buying an additional 857,105 shares in the last quarter. Schroder Investment Management Group acquired a new position in shares of Pengrowth Energy Corp. during the second quarter valued at about $1,991,000. Finally, Bank of Montreal Can acquired a new position in shares of Pengrowth Energy Corp. during the second quarter valued at about $1,336,000. Hedge funds and other institutional investors own 17.49% of the company’s stock.
Pengrowth Energy Corp. Company Profile
Receive News & Ratings for Pengrowth Energy Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pengrowth Energy Corp. and related companies with MarketBeat.com's FREE daily email newsletter.