Pengrowth Energy Corporation (PGH) Downgraded by Royal Bank Of Canada to “Underperform”

Royal Bank Of Canada lowered shares of Pengrowth Energy Corporation (NYSE:PGH) (TSE:PGF) from a sector perform rating to an underperform rating in a research report released on Friday morning.

Other analysts also recently issued research reports about the company. Zacks Investment Research upgraded Pengrowth Energy Corporation from a sell rating to a hold rating in a report on Wednesday, October 18th. TD Securities downgraded Pengrowth Energy Corporation from a hold rating to a reduce rating in a report on Monday, October 2nd. ValuEngine upgraded Pengrowth Energy Corporation from a strong sell rating to a sell rating in a report on Friday, September 22nd. Canaccord Genuity downgraded Pengrowth Energy Corporation from a hold rating to a sell rating in a report on Wednesday, October 4th. Finally, AltaCorp Capital downgraded Pengrowth Energy Corporation from a sector perform rating to an underperform rating in a report on Friday, October 6th. Eight analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. The stock presently has a consensus rating of Sell and an average price target of $1.99.

Pengrowth Energy Corporation (PGH) traded down $0.13 during midday trading on Friday, reaching $1.02. The company’s stock had a trading volume of 1,597,400 shares, compared to its average volume of 553,959. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.27 and a current ratio of 1.27. Pengrowth Energy Corporation has a 12-month low of $0.54 and a 12-month high of $1.76.

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Large investors have recently added to or reduced their stakes in the business. Letko Brosseau & Associates Inc. grew its stake in Pengrowth Energy Corporation by 1.6% during the 2nd quarter. Letko Brosseau & Associates Inc. now owns 42,924,106 shares of the oil and gas company’s stock valued at $33,713,000 after acquiring an additional 678,485 shares in the last quarter. Vanguard Group Inc. grew its stake in Pengrowth Energy Corporation by 6.3% during the 1st quarter. Vanguard Group Inc. now owns 10,481,695 shares of the oil and gas company’s stock valued at $10,481,000 after acquiring an additional 617,564 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in Pengrowth Energy Corporation during the 1st quarter valued at about $117,000. Cetera Investment Advisers purchased a new position in Pengrowth Energy Corporation during the 2nd quarter valued at about $1,906,000. Finally, UBS Asset Management Americas Inc. grew its stake in Pengrowth Energy Corporation 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 valued at $287,000 after acquiring an additional 57,600 shares in the last quarter. 16.65% of the stock is currently owned by institutional investors.

About Pengrowth Energy Corporation

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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