Pengrowth Energy Corp (PGF) Shares Up 5.4%

Pengrowth Energy Corp (TSE:PGF) (NYSE:PGH) shares shot up 5.4% on Monday . The company traded as high as C$1.37 and last traded at C$1.37. 794,723 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 1,515,710 shares. The stock had previously closed at C$1.30.

A number of research firms have recently weighed in on PGF. Canaccord Genuity downgraded Pengrowth Energy Corp from a “hold” rating to a “sell” rating and increased their price target for the company from C$0.85 to C$0.90 in a research note on Wednesday, October 4th. Royal Bank Of Canada cut their price target on Pengrowth Energy Corp from C$1.75 to C$1.50 and set a “sector perform” rating on the stock in a research note on Wednesday, July 12th. TD Securities cut their price target on Pengrowth Energy Corp from C$1.05 to C$0.85 and set a “hold” rating on the stock in a research note on Friday, September 8th. Barclays PLC cut their price target on Pengrowth Energy Corp from C$1.00 to C$0.50 in a research note on Monday, July 24th. Finally, National Bank Financial cut their price target on Pengrowth Energy Corp from C$1.00 to C$0.80 and set a “sector perform” rating on the stock in a research note on Friday, September 8th. Five equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of C$1.21.

The stock’s market capitalization is $762.10 million. The company’s 50 day moving average price is $1.19 and its 200-day moving average price is $1.08.

In other news, insider Seymour Schulich bought 3,000,000 shares of the company’s stock in a transaction that occurred on Monday, September 25th. The shares were acquired at an average price of C$1.41 per share, for a total transaction of C$4,230,000.00.

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Pengrowth Energy Corp 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.

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