Pengrowth Energy (PGF) Upgraded at Canaccord Genuity

Pengrowth Energy (TSE:PGF) (NYSE:PGH) was upgraded by research analysts at Canaccord Genuity from a “sell” rating to a “hold” rating in a report released on Tuesday.

A number of other equities analysts have also recently issued reports on the stock. Royal Bank of Canada cut shares of Pengrowth Energy from a “sector perform” rating to an “underperform” rating and increased their price objective for the stock from C$1.00 to C$1.15 in a research report on Friday, November 10th. BMO Capital Markets reaffirmed a “market perform” rating and issued a C$1.25 price target on shares of Pengrowth Energy in a research report on Tuesday, November 14th. National Bank Financial raised their price target on shares of Pengrowth Energy from C$1.00 to C$1.30 and gave the company a “sector perform” rating in a research report on Friday, November 10th. AltaCorp Capital raised shares of Pengrowth Energy from an “underperform” rating to a “sector perform” rating in a research report on Wednesday, December 13th. Finally, TD Securities raised their price target on shares of Pengrowth Energy from C$0.70 to C$0.80 and gave the company a “reduce” rating in a research report on Friday, January 19th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of C$1.00.

Pengrowth Energy (TSE:PGF) remained flat at $C$0.90 during mid-day trading on Tuesday. The stock had a trading volume of 243,466 shares, compared to its average volume of 600,716. The company has a market cap of $497.03, a P/E ratio of -0.87 and a beta of 1.93. Pengrowth Energy has a one year low of C$0.68 and a one year high of C$1.78.

In related news, insider Seymour Schulich purchased 1,000,000 shares of the firm’s stock in a transaction dated Friday, January 26th. The stock was bought at an average price of C$1.03 per share, for a total transaction of C$1,030,000.00. In the last 90 days, insiders have bought 6,000,000 shares of company stock valued at $5,820,000.

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Pengrowth Energy 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.

Analyst Recommendations for Pengrowth Energy (TSE:PGF)

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