Scotiabank reissued their sector perform rating on shares of Pengrowth Energy Corp. (NYSE:PGH) in a research note issued to investors on Saturday morning. They currently have a $2.25 price objective on the stock.

Several other equities analysts have also recently issued reports on the company. Barclays PLC cut Pengrowth Energy Corp. from an equal weight rating to an underweight rating and set a $2.00 price objective on the stock. in a research note on Friday, July 22nd. RBC Capital Markets restated an underperform rating and set a $1.50 price objective (up from $1.25) on shares of Pengrowth Energy Corp. in a research note on Wednesday, September 28th. Royal Bank Of Canada raised their price objective on Pengrowth Energy Corp. from $1.25 to $1.50 and gave the stock an underperform rating in a research note on Wednesday, September 28th. Canaccord Genuity restated a hold rating on shares of Pengrowth Energy Corp. in a research note on Sunday, August 7th. Finally, BMO Capital Markets started coverage on Pengrowth Energy Corp. in a research note on Thursday, September 8th. They set a market perform rating on the stock. Five analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. The stock has a consensus rating of Hold and an average price target of $1.79.

Shares of Pengrowth Energy Corp. (NYSE:PGH) opened at 1.66 on Friday. The company’s market cap is $908.76 million. Pengrowth Energy Corp. has a one year low of $0.45 and a one year high of $2.08. The firm’s 50-day moving average is $1.54 and its 200-day moving average is $1.57.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Royce & Associates LP raised its position in shares of Pengrowth Energy Corp. by 4.1% in the first quarter. Royce & Associates LP now owns 3,790,900 shares of the company’s stock worth $4,966,000 after buying an additional 149,000 shares during the period. Spark Investment Management LLC raised its position in shares of Pengrowth Energy Corp. by 52.1% in the first quarter. Spark Investment Management LLC now owns 841,000 shares of the company’s stock worth $1,099,000 after buying an additional 288,000 shares during the period. Canada Pension Plan Investment Board raised its position in shares of Pengrowth Energy Corp. by 429.6% in the first quarter. Canada Pension Plan Investment Board now owns 4,580,175 shares of the company’s stock worth $6,020,000 after buying an additional 3,715,367 shares during the period. Geode Capital Management LLC raised its position in shares of Pengrowth Energy Corp. by 124.9% in the first quarter. Geode Capital Management LLC now owns 188,573 shares of the company’s stock worth $247,000 after buying an additional 104,717 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in shares of Pengrowth Energy Corp. during the first quarter worth approximately $336,000. 17.49% of the stock is currently owned by institutional investors.

About Pengrowth Energy Corp.

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