Pengrowth Energy (NYSE:PGH) (TSE:PGF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and 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. “

A number of other brokerages have also recently commented on PGH. AltaCorp Capital raised Pengrowth Energy from an “underperform” rating to a “sector perform” rating in a research report on Wednesday, December 13th. ValuEngine raised Pengrowth Energy from a “strong sell” rating to a “sell” rating in a research report on Friday, September 22nd. Canaccord Genuity cut Pengrowth Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. TD Securities cut Pengrowth Energy from a “hold” rating to a “reduce” rating in a research report on Monday, October 2nd. Finally, Royal Bank of Canada cut Pengrowth Energy from a “sector perform” rating to an “underperform” rating in a research report on Friday, November 10th. Six equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The company has an average rating of “Sell” and an average price target of $1.50.

Shares of Pengrowth Energy (NYSE PGH) remained flat at $$0.90 on Friday. The stock had a trading volume of 575,697 shares, compared to its average volume of 604,601. Pengrowth Energy has a 52-week low of $0.54 and a 52-week high of $1.46. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.07 and a current ratio of 1.07.

Hedge funds have recently modified their holdings of the company. Guardian Capital Advisors LP lifted its holdings in shares of Pengrowth Energy by 127.2% in the 2nd quarter. Guardian Capital Advisors LP now owns 105,995 shares of the oil and gas company’s stock valued at $101,000 after buying an additional 59,340 shares during the period. Shell Asset Management Co. lifted its holdings in shares of Pengrowth Energy by 154.6% in the 3rd quarter. Shell Asset Management Co. now owns 148,424 shares of the oil and gas company’s stock valued at $871,000 after buying an additional 90,124 shares during the period. Diversified Investment Strategies LLC acquired a new position in shares of Pengrowth Energy in the 3rd quarter valued at about $385,000. UBS Asset Management Americas Inc. lifted its holdings in shares of Pengrowth Energy by 49.5% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 430,557 shares of the oil and gas company’s stock valued at $338,000 after buying an additional 142,500 shares during the period. Finally, Royal Bank of Canada lifted its holdings in shares of Pengrowth Energy by 0.7% in the 2nd quarter. Royal Bank of Canada now owns 1,217,285 shares of the oil and gas company’s stock valued at $961,000 after buying an additional 8,605 shares during the period. 14.46% of the stock is owned by institutional investors and hedge funds.

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About Pengrowth Energy

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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