Pengrowth Energy (NYSE:PGH) Rating Lowered to Underperform at Royal Bank Of Canada

Royal Bank Of Canada cut shares of Pengrowth Energy (NYSE:PGH) (TSE:PGF) from a sector perform rating to an underperform rating in a research report sent to investors on Friday, November 10th, MarketBeat.com reports.

Several other brokerages also recently issued reports on PGH. Zacks Investment Research upgraded shares of Pengrowth Energy from a sell rating to a hold rating in a research report on Friday, August 25th. AltaCorp Capital downgraded shares of Pengrowth Energy from a sector perform rating to an underperform rating in a research report on Friday, October 6th. ValuEngine upgraded shares of Pengrowth Energy from a strong sell rating to a sell rating in a research report on Friday, September 22nd. Canaccord Genuity downgraded shares of Pengrowth Energy from a hold rating to a sell rating in a research report on Wednesday, October 4th. Finally, TD Securities downgraded shares of Pengrowth Energy from a hold rating to a reduce rating in a research report on Monday, October 2nd. Eight investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. The stock has an average rating of Sell and an average price target of $2.19.

Pengrowth Energy (NYSE:PGH) traded down $0.01 on Friday, hitting $0.81. 674,700 shares of the stock traded hands, compared to its average volume of 881,100. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.07 and a current ratio of 1.07. Pengrowth Energy has a fifty-two week low of $0.54 and a fifty-two week high of $1.76.

A number of hedge funds and other institutional investors have recently bought and sold shares of PGH. Royal Bank of Canada grew 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. Creative Planning grew its stake in shares of Pengrowth Energy by 6.9% during the 2nd quarter. Creative Planning now owns 135,218 shares of the oil and gas company’s stock worth $107,000 after acquiring an additional 8,766 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Pengrowth Energy by 8.9% during the 1st quarter. Bank of America Corp DE now owns 162,905 shares of the oil and gas company’s stock worth $163,000 after acquiring an additional 13,320 shares in the last quarter. Credit Suisse AG grew its stake in shares of Pengrowth Energy by 5.5% during the 1st quarter. Credit Suisse AG now owns 514,609 shares of the oil and gas company’s stock worth $515,000 after acquiring an additional 27,039 shares in the last quarter. Finally, UBS Asset Management Americas Inc. grew its stake in shares of Pengrowth Energy by 25.0% during the 1st quarter. UBS Asset Management Americas Inc. now owns 288,057 shares of the oil and gas company’s stock worth $287,000 after acquiring an additional 57,600 shares in the last quarter. 14.47% of the stock is owned by institutional investors and hedge funds.

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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 (NYSE:PGH)

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