Pengrowth Energy (PGF) Upgraded to Hold at Canaccord Genuity

Pengrowth Energy (TSE:PGF) (NYSE:PGH) was upgraded by stock analysts at Canaccord Genuity from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Other equities analysts have also issued reports about the company. BMO Capital Markets reaffirmed a “market perform” rating and issued a C$1.25 price objective on shares of Pengrowth Energy in a research note on Tuesday, November 14th. Raymond James Financial lifted their price objective on Pengrowth Energy from C$0.50 to C$0.75 in a research note on Monday, February 5th. TD Securities lifted their price objective on Pengrowth Energy from C$0.70 to C$0.80 and gave the company a “reduce” rating in a research note on Friday, January 19th. National Bank Financial reduced their price objective on Pengrowth Energy from C$1.30 to C$1.20 and set a “sector perform” rating on the stock in a research note on Tuesday, January 9th. Finally, Royal Bank of Canada lowered Pengrowth Energy from a “sector perform” rating to an “underperform” rating and boosted their price target for the stock from C$1.00 to C$1.15 in a research report on Friday, November 10th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of C$1.00.

Pengrowth Energy (TSE PGF) remained flat at $C$0.90 during midday trading on Tuesday. 241,966 shares of the stock traded hands, compared to its average volume of 600,668. The firm has a market capitalization of $497.03, a price-to-earnings ratio of -0.87 and a beta of 1.93. Pengrowth Energy has a 12-month low of C$0.68 and a 12-month high of C$1.78.

In related news, insider Seymour Schulich purchased 2,000,000 shares of Pengrowth Energy stock in a transaction that occurred on Friday, February 9th. The shares were purchased at an average cost of C$0.88 per share, with a total value of C$1,760,000.00. Insiders have purchased a total of 6,000,000 shares of company stock worth $5,820,000 over the last three months.

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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 (TSE:PGF)

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