Pengrowth Energy Corp (PGH) Given Consensus Rating of “Sell” by Brokerages

Shares of Pengrowth Energy Corp (NYSE:PGH) (TSE:PGF) have been assigned a consensus recommendation of “Sell” from the ten analysts that are covering the stock, MarketBeat Ratings reports. Eight analysts have rated the stock with a sell rating and two have given a hold rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $2.00.

Several equities analysts have commented on PGH shares. Zacks Investment Research raised shares of Pengrowth Energy from a “sell” rating to a “hold” rating in a research report on Friday, September 22nd. ValuEngine cut shares of Pengrowth Energy from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 16th. Canaccord Genuity cut shares of Pengrowth Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. TD Securities cut shares of Pengrowth Energy from a “hold” rating to a “reduce” rating in a research report on Monday, October 2nd. Finally, AltaCorp Capital cut shares of Pengrowth Energy from a “sector perform” rating to an “underperform” rating in a research report on Friday, October 6th.

Pengrowth Energy (PGH) opened at $0.78 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 1.07. Pengrowth Energy has a 1 year low of $0.54 and a 1 year high of $1.76.

Several institutional investors have recently added to or reduced their stakes in the company. Diversified Investment Strategies LLC purchased a new stake in shares of Pengrowth Energy during the 3rd quarter worth $385,000. Schroder Investment Management Group lifted its position in shares of Pengrowth Energy by 61.6% during the 3rd quarter. Schroder Investment Management Group now owns 1,716,000 shares of the oil and gas company’s stock worth $2,231,000 after purchasing an additional 653,900 shares during the last quarter. Grace & White Inc. NY lifted its position in shares of Pengrowth Energy by 10.5% during the 3rd quarter. Grace & White Inc. NY now owns 3,511,892 shares of the oil and gas company’s stock worth $3,617,000 after purchasing an additional 335,066 shares during the last quarter. Shell Asset Management Co. lifted its position 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 purchasing an additional 90,124 shares during the last quarter. Finally, Cetera Investment Advisers purchased a new stake in shares of Pengrowth Energy during the 2nd quarter worth $1,906,000. 14.47% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Pengrowth Energy (NYSE:PGH)

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