Shares of Pengrowth Energy Corporation (NYSE:PGH) (TSE:PGF) have been given an average recommendation of “Hold” by the nine research firms that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $2.17.

PGH has been the topic of a number of research reports. TD Securities upgraded Pengrowth Energy Corporation from a “reduce” rating to a “hold” rating in a research note on Wednesday, April 26th. Scotiabank downgraded Pengrowth Energy Corporation from a “sector perform” rating to an “underperform” rating in a research report on Monday, March 27th. AltaCorp Capital reiterated a “sector perform” rating on shares of Pengrowth Energy Corporation in a research report on Wednesday, May 3rd. Royal Bank Of Canada downgraded Pengrowth Energy Corporation to a “hold” rating and set a $2.00 target price on the stock. in a research report on Wednesday, March 22nd. Finally, Canaccord Genuity raised Pengrowth Energy Corporation from a “hold” rating to a “buy” rating in a report on Friday, March 24th.

Large investors have recently modified their holdings of the company. Wells Fargo & Company MN boosted its stake in shares of Pengrowth Energy Corporation by 21.8% in the third quarter. Wells Fargo & Company MN now owns 63,171 shares of the oil and gas company’s stock valued at $100,000 after buying an additional 11,318 shares during the last quarter. Two Sigma Investments LP bought a new stake in shares of Pengrowth Energy Corporation during the fourth quarter valued at $111,000. JPMorgan Chase & Co. bought a new stake in shares of Pengrowth Energy Corporation during the first quarter valued at $117,000. Paragon Capital Management Ltd bought a new stake in shares of Pengrowth Energy Corporation during the first quarter valued at $135,000. Finally, Albert D Mason Inc. boosted its stake in shares of Pengrowth Energy Corporation by 128.2% in the first quarter. Albert D Mason Inc. now owns 152,784 shares of the oil and gas company’s stock valued at $153,000 after buying an additional 85,825 shares during the last quarter. 17.80% of the stock is currently owned by institutional investors.

Shares of Pengrowth Energy Corporation (NYSE:PGH) traded up 3.8761% during mid-day trading on Friday, reaching $0.8147. The company’s stock had a trading volume of 568,609 shares. The company has a 50-day moving average of $0.88 and a 200-day moving average of $1.17. Pengrowth Energy Corporation has a 12 month low of $0.76 and a 12 month high of $1.92. The firm’s market cap is $449.92 million.

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Pengrowth Energy Corporation 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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