Pengrowth Energy (NYSE:PGH) Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Pengrowth Energy (NYSE:PGH) (TSE:PGF) from a buy rating to a hold rating in a research note released on Thursday, January 11th.

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. “

Other research analysts also recently issued research reports about the company. TD Securities downgraded Pengrowth Energy from a hold rating to a reduce rating in a research note on Monday, October 2nd. Canaccord Genuity downgraded Pengrowth Energy from a hold rating to a sell rating in a research note on Wednesday, October 4th. AltaCorp Capital upgraded Pengrowth Energy from an underperform rating to a sector perform rating in a research note on Wednesday, December 13th. ValuEngine downgraded Pengrowth Energy from a sell rating to a strong sell rating in a research note on Monday, October 2nd. Finally, Royal Bank of Canada downgraded Pengrowth Energy from a sector perform rating to an underperform rating in a research note on Friday, November 10th. Six research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Pengrowth Energy has a consensus rating of Sell and an average price target of $1.50.

Shares of Pengrowth Energy (NYSE:PGH) traded down $0.05 during mid-day trading on Thursday, hitting $0.74. The stock had a trading volume of 533,087 shares, compared to its average volume of 504,247. Pengrowth Energy has a twelve month low of $0.54 and a twelve month high of $1.37. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $413.84, a P/E ratio of -0.88 and a beta of 2.38.

Pengrowth Energy (NYSE:PGH) (TSE:PGF) last issued its quarterly earnings results on Thursday, November 9th. The oil and gas company reported ($0.22) earnings per share for the quarter. Pengrowth Energy had a negative net margin of 101.66% and a negative return on equity of 38.22%. The business had revenue of $73.00 million for the quarter. analysts anticipate that Pengrowth Energy will post -0.79 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Guardian Capital Advisors LP boosted its stake in shares of Pengrowth Energy by 127.2% during the 2nd quarter. Guardian Capital Advisors LP now owns 105,995 shares of the oil and gas company’s stock worth $101,000 after acquiring an additional 59,340 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of 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 acquiring an additional 142,500 shares in the last quarter. Diversified Investment Strategies LLC bought a new stake in shares of Pengrowth Energy during the 3rd quarter worth about $385,000. Shell Asset Management Co. boosted its stake in shares of 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 acquiring an additional 90,124 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of 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 acquiring an additional 8,605 shares in the last quarter. Institutional investors own 14.43% 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.

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