Pengrowth Energy Corp (TSE:PGF) Given Consensus Recommendation of “Hold” by Brokerages
Shares of Pengrowth Energy Corp (TSE:PGF) (NYSE:PGH) have been assigned a consensus recommendation of “Hold” from the seven research firms that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is C$1.71.
A number of brokerages have recently issued reports on PGF. Canaccord Genuity cut Pengrowth Energy Corp from a “speculative buy” rating to a “hold” rating and dropped their price objective for the stock from C$1.75 to C$1.15 in a research note on Tuesday, July 11th. Scotiabank dropped their price objective on Pengrowth Energy Corp from C$2.00 to C$1.50 and set an “underperform” rating on the stock in a research note on Monday, March 27th. Raymond James Financial, Inc. reiterated an “outperform” rating and set a C$1.75 price objective on shares of Pengrowth Energy Corp in a research note on Monday, March 27th. TD Securities reiterated a “hold” rating and set a C$1.55 price objective on shares of Pengrowth Energy Corp in a research note on Wednesday, May 3rd. Finally, Royal Bank Of Canada upgraded Pengrowth Energy Corp from an “under perform” rating to a “sector perform” rating and set a C$1.75 price objective on the stock in a research note on Tuesday, March 21st.
Pengrowth Energy Corp (TSE PGF) opened at 0.92 on Monday. The stock has a 50 day moving average of $1.15 and a 200-day moving average of $1.50. The company’s market cap is $508.07 million. Pengrowth Energy Corp has a 52-week low of $0.92 and a 52-week high of $2.32.
In other Pengrowth Energy Corp news, Director Jamie Calvin Sokalsky purchased 50,000 shares of the company’s stock in a transaction that occurred on Friday, May 5th. The shares were acquired at an average price of C$1.16 per share, for a total transaction of C$58,000.00. Also, Director Donald Michael Godfre Stewart purchased 48,000 shares of the company’s stock in a transaction that occurred on Thursday, May 4th. The stock was acquired at an average price of C$1.10 per share, for a total transaction of C$52,800.00. In the last 90 days, insiders purchased 123,000 shares of company stock worth $138,950.
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About Pengrowth Energy Corp
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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