Pengrowth Energy (PGH) Stock Rating Upgraded by AltaCorp Capital

Pengrowth Energy (NYSE:PGH) (TSE:PGF) was upgraded by stock analysts at AltaCorp Capital from an “underperform” rating to a “sector perform” rating in a research report issued to clients and investors on Wednesday.

Several other equities analysts have also commented on the company. Royal Bank of Canada lowered Pengrowth Energy from a “sector perform” rating to an “underperform” rating in a research note on Friday, November 10th. Zacks Investment Research upgraded Pengrowth Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, October 18th. Canaccord Genuity lowered Pengrowth Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. ValuEngine lowered Pengrowth Energy from a “sell” rating to a “strong sell” rating in a research note on Monday, October 2nd. Finally, TD Securities lowered Pengrowth Energy from a “hold” rating to a “reduce” rating in a research note on Monday, October 2nd. Seven analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Pengrowth Energy has a consensus rating of “Sell” and a consensus price target of $2.19.

Pengrowth Energy (PGH) opened at $0.75 on Wednesday. Pengrowth Energy has a 12 month low of $0.54 and a 12 month high of $1.66. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 1.07.

A number of large investors have recently made changes to their positions in PGH. Cetera Investment Advisers acquired a new stake in Pengrowth Energy during the second quarter worth about $1,906,000. Letko Brosseau & Associates Inc. increased its stake in Pengrowth Energy by 1.6% during the second quarter. Letko Brosseau & Associates Inc. now owns 42,924,106 shares of the oil and gas company’s stock worth $33,713,000 after acquiring an additional 678,485 shares during the last quarter. Schroder Investment Management Group increased its stake in Pengrowth Energy by 61.6% during the third quarter. Schroder Investment Management Group now owns 1,716,000 shares of the oil and gas company’s stock worth $2,231,000 after acquiring an additional 653,900 shares during the last quarter. Vanguard Group Inc. increased its stake in Pengrowth Energy by 6.3% during the first quarter. Vanguard Group Inc. now owns 10,481,695 shares of the oil and gas company’s stock worth $10,481,000 after acquiring an additional 617,564 shares during the last quarter. Finally, Diversified Investment Strategies LLC acquired a new stake in Pengrowth Energy during the third quarter worth about $385,000. Institutional investors own 14.47% of the company’s stock.

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Pengrowth Energy 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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