Pengrowth Energy Corporation (NYSE:PGH) (TSE:PGF) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

According to Zacks, “Pengrowth Energy Trust is a Canadian energy trust with crude oil and natural gas properties in the Western Canadian Sedimentary Basin and offshore the East Coast of Canada. “

Several other analysts have also issued reports on PGH. TD Securities raised Pengrowth Energy Corporation from a “reduce” rating to a “hold” rating in a research note on Wednesday, April 26th. AltaCorp Capital reaffirmed a “sector perform” rating on shares of Pengrowth Energy Corporation in a research note on Wednesday, May 3rd. Natixis lowered Pengrowth Energy Corporation from a “buy” rating to a “neutral” rating in a research note on Thursday, June 22nd. Raymond James Financial, Inc. lowered Pengrowth Energy Corporation from a “market perform” rating to an “underperform” rating in a research note on Wednesday, July 5th. Finally, Canaccord Genuity lowered Pengrowth Energy Corporation from a “speculative buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Five equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $2.06.

Pengrowth Energy Corporation (NYSE:PGH) opened at 0.5756 on Friday. The company’s market capitalization is $317.87 million. Pengrowth Energy Corporation has a 12-month low of $0.54 and a 12-month high of $1.77. The firm has a 50-day moving average of $0.71 and a 200 day moving average of $0.95.

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Several hedge funds have recently added to or reduced their stakes in PGH. Guardian Capital Advisors LP raised its stake in Pengrowth Energy Corporation by 127.2% in the second quarter. Guardian Capital Advisors LP now owns 105,995 shares of the oil and gas company’s stock worth $101,000 after buying an additional 59,340 shares during the period. Creative Planning raised its stake in Pengrowth Energy Corporation by 6.9% in the second quarter. Creative Planning now owns 135,218 shares of the oil and gas company’s stock worth $107,000 after buying an additional 8,766 shares during the period. JPMorgan Chase & Co. bought a new stake in Pengrowth Energy Corporation during the first quarter worth $117,000. Paragon Capital Management Ltd bought a new stake in Pengrowth Energy Corporation during the first quarter worth $135,000. Finally, Albert D Mason Inc. raised its stake in Pengrowth Energy Corporation by 128.2% in the first quarter. Albert D Mason Inc. now owns 152,784 shares of the oil and gas company’s stock worth $153,000 after buying an additional 85,825 shares during the period. 17.60% of the stock is owned by hedge funds and other institutional investors.

About Pengrowth Energy Corporation

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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Analyst Recommendations for Pengrowth Energy Corporation (NYSE:PGH)

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