The Pengrowth Energy Corp. (PGH) Earns Underweight Rating from Barclays PLC

The Pengrowth Energy Corp. (PGH) Earns Underweight Rating from Barclays PLC

Pengrowth Energy Corp. (NYSE:PGH)‘s stock had its “underweight” rating reiterated by investment analysts at Barclays PLC in a report released on Sunday.

Several other brokerages have also issued reports on PGH. Scotiabank reissued a “sector perform” rating and issued a $2.25 price target on shares of Pengrowth Energy Corp. in a research note on Wednesday, August 10th. RBC Capital Markets reissued an “underperform” rating and issued a $1.50 price target (up from $1.25) on shares of Pengrowth Energy Corp. in a research note on Wednesday, September 28th. Royal Bank Of Canada boosted their price target on Pengrowth Energy Corp. from $1.25 to $1.50 and gave the company an “underperform” rating in a research note on Wednesday, September 28th. Canaccord Genuity reissued a “hold” rating on shares of Pengrowth Energy Corp. in a research note on Sunday, August 7th. Finally, BMO Capital Markets initiated coverage on Pengrowth Energy Corp. in a research note on Thursday, September 8th. They issued a “market perform” rating on the stock. Five investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $1.79.

Pengrowth Energy Corp. (NYSE:PGH) traded down 1.19% during trading on Friday, hitting $1.66. 852,338 shares of the company traded hands. Pengrowth Energy Corp. has a 12-month low of $0.45 and a 12-month high of $2.08. The stock has a 50-day moving average price of $1.54 and a 200-day moving average price of $1.57. The firm’s market capitalization is $908.76 million.

A number of large investors have recently added to or reduced their stakes in PGH. Letko Brosseau & Associates Inc. raised its stake in Pengrowth Energy Corp. by 0.4% in the second quarter. Letko Brosseau & Associates Inc. now owns 39,889,676 shares of the company’s stock worth $72,365,000 after buying an additional 140,000 shares during the last quarter. Vanguard Group Inc. raised its stake in Pengrowth Energy Corp. by 10.3% in the second quarter. Vanguard Group Inc. now owns 9,147,246 shares of the company’s stock worth $16,831,000 after buying an additional 857,105 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in 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 last quarter. Royce & Associates LP raised its stake in Pengrowth Energy Corp. by 8.1% in the second quarter. Royce & Associates LP now owns 4,096,900 shares of the company’s stock worth $7,538,000 after buying an additional 306,000 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in Pengrowth Energy Corp. during the second quarter worth approximately $3,226,000. 17.49% of the stock is owned by institutional investors and hedge funds.

About Pengrowth Energy Corp.

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