Pengrowth Energy Corp (PGF) Cut to “Hold” at Canaccord Genuity
Pengrowth Energy Corp (TSE:PGF) (NYSE:PGH) was downgraded by analysts at Canaccord Genuity from a “speculative buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday. They currently have a C$1.15 target price on the stock, down from their previous target price of C$1.75. Canaccord Genuity’s target price suggests a potential upside of 16.16% from the company’s current price.
Other equities analysts have also issued reports about the stock. TD Securities reiterated a “hold” rating and issued a C$1.55 price target on shares of Pengrowth Energy Corp in a research note on Wednesday, May 3rd. Raymond James Financial, Inc. decreased their price objective on Pengrowth Energy Corp from C$2.00 to C$1.75 and set a “market perform” rating for the company in a report on Tuesday, March 21st. Royal Bank Of Canada raised Pengrowth Energy Corp from an “under perform” rating to a “sector perform” rating and set a C$1.75 price target for the company in a report on Tuesday, March 21st. Finally, Scotiabank reaffirmed an “underperform” rating and set a C$1.50 price target on shares of Pengrowth Energy Corp in a report on Wednesday, May 3rd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of C$1.74.
Pengrowth Energy Corp (TSE:PGF) traded up 2.02% during mid-day trading on Tuesday, reaching $1.01. 494,906 shares of the company were exchanged. The stock has a 50-day moving average of $1.15 and a 200 day moving average of $1.50. Pengrowth Energy Corp has a 1-year low of $0.97 and a 1-year high of $2.38. The firm’s market capitalization is $557.78 million.
In other Pengrowth Energy Corp news, Director Donald Michael Godfre Stewart acquired 48,000 shares of the business’s stock in a transaction on Thursday, May 4th. The stock was purchased at an average price of C$1.10 per share, for a total transaction of C$52,800.00. Also, Director Jamie Calvin Sokalsky acquired 50,000 shares of the business’s stock in a transaction on Friday, May 5th. The stock was acquired at an average price of C$1.16 per share, with a total value of C$58,000.00. Insiders acquired 123,000 shares of company stock valued at $138,950 in the last quarter.
Pengrowth Energy Corp Company Profile
Pengrowth Energy Corporation 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. The Lindbergh thermal property is located approximately 420 kilometers north east of Calgary, Alberta and 50 kilometers south of Bonnyville, Alberta.
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