Pengrowth Energy Corporation (NYSE:PGH) Downgraded to “Underperform” at AltaCorp Capital

AltaCorp Capital downgraded shares of Pengrowth Energy Corporation (NYSE:PGH) (TSE:PGF) from a sector perform rating to an underperform rating in a report published on Friday, October 6th.

Other analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Pengrowth Energy Corporation from a sell rating to a hold rating in a research note on Friday, September 22nd. Canaccord Genuity cut shares of Pengrowth Energy Corporation from a speculative buy rating to a hold rating in a research report on Tuesday, July 11th. Natixis cut shares of Pengrowth Energy Corporation from a buy rating to a neutral rating in a research report on Thursday, June 22nd. TD Securities cut shares of Pengrowth Energy Corporation from a hold rating to a reduce rating in a research report on Monday, October 2nd. Finally, ValuEngine upgraded shares of Pengrowth Energy Corporation from a strong sell rating to a sell rating in a research report on Friday, September 22nd. Seven investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The company presently has a consensus rating of Sell and an average price target of $1.99.

Pengrowth Energy Corporation (NYSE:PGH) opened at 1.01 on Friday. The company has a 50-day moving average price of $0.85 and a 200-day moving average price of $0.84. Pengrowth Energy Corporation has a one year low of $0.54 and a one year high of $1.77. The company’s market capitalization is $557.77 million.

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Several large investors have recently bought and sold shares of the company. TD Asset Management Inc. raised its position in shares of Pengrowth Energy Corporation by 0.7% in the first quarter. TD Asset Management Inc. now owns 160,118 shares of the oil and gas company’s stock valued at $160,000 after buying an additional 1,153 shares during the last quarter. Royal Bank of Canada grew its holdings in Pengrowth Energy Corporation by 0.7% in the second quarter. Royal Bank of Canada now owns 1,217,285 shares of the oil and gas company’s stock valued at $961,000 after purchasing an additional 8,605 shares during the period. Creative Planning grew its holdings in Pengrowth Energy Corporation by 6.9% in the second quarter. Creative Planning now owns 135,218 shares of the oil and gas company’s stock valued at $107,000 after purchasing an additional 8,766 shares during the period. Bank of America Corp DE grew its holdings in Pengrowth Energy Corporation by 8.9% in the first quarter. Bank of America Corp DE now owns 162,905 shares of the oil and gas company’s stock valued at $163,000 after purchasing an additional 13,320 shares during the period. Finally, Credit Suisse AG grew its holdings in Pengrowth Energy Corporation by 5.5% in the first quarter. Credit Suisse AG now owns 514,609 shares of the oil and gas company’s stock valued at $515,000 after purchasing an additional 27,039 shares during the period. 16.72% of the stock is owned by institutional investors and hedge funds.

Pengrowth Energy Corporation 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 Corporation (NYSE:PGH)

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