Pengrowth Energy Corp (PGF) Cut to Sell at Canaccord Genuity
Pengrowth Energy Corp (TSE:PGF) (NYSE:PGH) was downgraded by research analysts at Canaccord Genuity from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday. They presently have a C$0.90 target price on the stock, up from their previous target price of C$0.85. Canaccord Genuity’s price target would indicate a potential downside of 29.69% from the company’s previous close.
Several other research analysts have also recently issued reports on the company. TD Securities cut Pengrowth Energy Corp from a “hold” rating to a “reduce” rating and decreased their price target for the stock from C$0.85 to C$0.70 in a research note on Monday. National Bank Financial decreased their price target on Pengrowth Energy Corp from C$1.00 to C$0.80 and set a “sector perform” rating for the company in a research note on Friday, September 8th. Royal Bank Of Canada decreased their price target on Pengrowth Energy Corp from C$1.25 to C$1.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 15th. Finally, Barclays PLC decreased their price target on Pengrowth Energy Corp from C$1.00 to C$0.50 in a research note on Monday, July 24th. Four research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of C$1.21.
Shares of Pengrowth Energy Corp (TSE PGF) traded down 0.78% during midday trading on Wednesday, hitting $1.28. 1,681,748 shares of the company’s stock traded hands. Pengrowth Energy Corp has a 52 week low of $0.68 and a 52 week high of $2.32. The stock’s market cap is $706.87 million. The company has a 50 day moving average of $0.92 and a 200 day moving average of $1.10.
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In other Pengrowth Energy Corp news, insider Seymour Schulich purchased 3,000,000 shares of the firm’s stock in a transaction dated Monday, September 25th. The stock was bought at an average price of C$1.41 per share, with a total value of C$4,230,000.00.
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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