Zacks Investment Research Downgrades Pengrowth Energy (PGH) to Sell

Pengrowth Energy (NYSE:PGH) (TSE:PGF) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

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 equities analysts have also recently issued reports about the company. Canaccord Genuity upgraded Pengrowth Energy from a “sell” rating to a “hold” rating in a report on Tuesday, February 13th. ValuEngine upgraded Pengrowth Energy from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 2nd. Finally, AltaCorp Capital cut Pengrowth Energy from a “sector perform” rating to an “underperform” rating in a report on Wednesday, May 2nd. Six equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. The company has an average rating of “Sell” and a consensus price target of $1.00.

Shares of PGH stock opened at $0.81 on Friday. Pengrowth Energy has a 1 year low of $0.54 and a 1 year high of $1.23. The firm has a market cap of $448.59, a PE ratio of -0.77 and a beta of 2.15. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.62 and a current ratio of 0.37.

Pengrowth Energy (NYSE:PGH) (TSE:PGF) last issued its earnings results on Wednesday, February 28th. The oil and gas company reported ($0.32) earnings per share (EPS) for the quarter. The company had revenue of $102.75 million during the quarter. Pengrowth Energy had a negative return on equity of 67.08% and a negative net margin of 127.77%. research analysts expect that Pengrowth Energy will post -0.08 earnings per share for the current year.

Institutional investors have recently modified their holdings of the company. Mackenzie Financial Corp boosted its position in shares of Pengrowth Energy by 4,161.5% in the fourth quarter. Mackenzie Financial Corp now owns 2,322,500 shares of the oil and gas company’s stock worth $1,845,000 after buying an additional 2,268,000 shares during the period. Schroder Investment Management Group boosted its position in shares of Pengrowth Energy by 14.8% in the fourth 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. Goldman Sachs Group Inc. boosted its position in shares of Pengrowth Energy by 150.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 219,591 shares of the oil and gas company’s stock worth $174,000 after buying an additional 131,903 shares during the period. Finally, Deutsche Bank AG boosted its position in shares of Pengrowth Energy by 26.8% in the fourth quarter. Deutsche Bank AG now owns 378,707 shares of the oil and gas company’s stock worth $301,000 after buying an additional 80,065 shares during the period. 14.23% of the stock is owned by institutional investors and hedge funds.

Pengrowth Energy Company Profile

Pengrowth Energy Corporation engages in the acquisition, exploration, development, and production of oil and natural gas assets in Alberta, British Columbia, Saskatchewan, and Nova Scotia provinces in Canada. The company explores for crude oil, bitumen, natural gas, shale gas, and natural gas liquids.

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