Pengrowth Energy (PGH) Lifted to Hold at Canaccord Genuity

Pengrowth Energy (NYSE:PGH) (TSE:PGF) was upgraded by Canaccord Genuity from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, The Fly reports.

Several other equities research analysts have also issued reports on the stock. Royal Bank of Canada lowered shares of Pengrowth Energy from a “sector perform” rating to an “underperform” rating in a report on Friday, November 10th. Zacks Investment Research upgraded shares of Pengrowth Energy from a “hold” rating to a “buy” rating and set a $1.00 target price on the stock in a research report on Thursday, January 4th. Finally, AltaCorp Capital upgraded shares of Pengrowth Energy from an “underperform” rating to a “sector perform” rating in a research report on Wednesday, December 13th. Five equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Pengrowth Energy presently has an average rating of “Sell” and a consensus target price of $1.50.

Shares of Pengrowth Energy (PGH) opened at $0.71 on Tuesday. The stock has a market cap of $375.53, a P/E ratio of -0.90 and a beta of 2.37. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.60. Pengrowth Energy has a 1-year low of $0.54 and a 1-year high of $1.37.

Large investors have recently bought and sold shares of the stock. UBS Asset Management Americas Inc. boosted its position in Pengrowth Energy by 49.5% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 430,557 shares of the oil and gas company’s stock worth $338,000 after buying an additional 142,500 shares during the period. Diversified Investment Strategies LLC acquired a new stake in Pengrowth Energy during the 3rd quarter worth approximately $385,000. Shell Asset Management Co. boosted its position in Pengrowth Energy by 154.6% during the 3rd quarter. Shell Asset Management Co. now owns 148,424 shares of the oil and gas company’s stock worth $871,000 after buying an additional 90,124 shares during the period. Royal Bank of Canada boosted its position in Pengrowth Energy by 0.7% during the 2nd quarter. Royal Bank of Canada now owns 1,217,285 shares of the oil and gas company’s stock worth $961,000 after buying an additional 8,605 shares during the period. Finally, Schroder Investment Management Group boosted its position in Pengrowth Energy by 14.8% during the 4th quarter. Schroder Investment Management Group now owns 1,970,200 shares of the oil and gas company’s stock worth $1,970,000 after buying an additional 254,200 shares during the period. Institutional investors and hedge funds own 14.38% of the company’s stock.

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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.

The Fly

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