Pengrowth Energy (PGH) Trading Down 8.9%

Shares of Pengrowth Energy Corp (NYSE:PGH) (TSE:PGF) fell 8.9% on Wednesday . The stock traded as low as $0.72 and last traded at $0.72. 995,653 shares were traded during trading, an increase of 15% from the average session volume of 866,200 shares. The stock had previously closed at $0.79.

Several research firms have weighed in on PGH. ValuEngine cut Pengrowth Energy from a “sell” rating to a “strong sell” rating in a research report on Monday, October 2nd. TD Securities cut Pengrowth Energy from a “hold” rating to a “reduce” rating in a research report on Monday, October 2nd. Canaccord Genuity cut Pengrowth Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. AltaCorp Capital raised Pengrowth Energy from an “underperform” rating to a “sector perform” rating in a research report on Wednesday, December 13th. Finally, Zacks Investment Research raised Pengrowth Energy from a “sell” rating to a “hold” rating in a research report on Friday, September 22nd. Six research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The stock presently has a consensus rating of “Sell” and an average price target of $2.00.

The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.60.

Hedge funds have recently added to or reduced their stakes in the company. Guardian Capital Advisors LP lifted its holdings in shares of Pengrowth Energy by 127.2% during the second quarter. Guardian Capital Advisors LP now owns 105,995 shares of the oil and gas company’s stock valued at $101,000 after purchasing an additional 59,340 shares during the last quarter. Shell Asset Management Co. lifted its holdings in shares of Pengrowth Energy by 154.6% during the third quarter. Shell Asset Management Co. now owns 148,424 shares of the oil and gas company’s stock valued at $871,000 after purchasing an additional 90,124 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Pengrowth Energy by 8.9% during the first quarter. Bank of America Corp DE now owns 162,905 shares of the oil and gas company’s stock valued at $163,000 after purchasing an additional 13,320 shares during the last quarter. Diversified Investment Strategies LLC purchased a new position in shares of Pengrowth Energy during the third quarter valued at approximately $385,000. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Pengrowth Energy by 41.9% during the first quarter. Goldman Sachs Group Inc. now owns 412,229 shares of the oil and gas company’s stock valued at $412,000 after purchasing an additional 121,625 shares during the last quarter. Hedge funds and other institutional investors own 14.46% of the company’s stock.

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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.

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