The Pengrowth Energy Corp. (PGH) Receives Hold Rating from Canaccord Genuity

The Pengrowth Energy Corp. (PGH) Receives Hold Rating from Canaccord Genuity

Pengrowth Energy Corp. (NYSE:PGH)‘s stock had its “hold” rating restated by equities researchers at Canaccord Genuity in a research report issued on Saturday. They presently have a $2.40 price target on the stock, up from their previous price target of $2.15. Canaccord Genuity’s price target would indicate a potential upside of 44.58% from the stock’s previous close.

A number of other research firms have also recently issued reports on PGH. RBC Capital Markets restated an “underperform” rating and set a $1.50 price objective (up previously from $1.25) on shares of Pengrowth Energy Corp. in a report on Wednesday, September 28th. Scotiabank restated a “sector perform” rating and set a $2.25 price objective on shares of Pengrowth Energy Corp. in a report on Wednesday, August 10th. TD Securities restated a “reduce” rating and set a $1.05 price objective on shares of Pengrowth Energy Corp. in a report on Wednesday, August 10th. Zacks Investment Research upgraded Pengrowth Energy Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, July 6th. Finally, BMO Capital Markets assumed coverage on Pengrowth Energy Corp. in a report on Thursday, September 8th. They issued a “market perform” rating for the company. Five investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $1.79.

Shares of Pengrowth Energy Corp. (NYSE:PGH) opened at 1.66 on Friday. The company’s market capitalization is $908.76 million. Pengrowth Energy Corp. has a 12-month low of $0.45 and a 12-month high of $2.08. The company has a 50-day moving average price of $1.54 and a 200 day moving average price of $1.57.

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Large investors have recently modified their holdings of the company. Canada Pension Plan Investment Board boosted its stake 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. Acadian Asset Management LLC acquired a new position in shares of Pengrowth Energy Corp. during the second quarter valued at about $3,226,000. Vanguard Group Inc. raised its position in shares of Pengrowth Energy Corp. by 10.3% in the second quarter. Vanguard Group Inc. now owns 9,147,246 shares of the company’s stock valued at $16,831,000 after buying an additional 857,105 shares in the last quarter. Schroder Investment Management Group acquired a new position in shares of Pengrowth Energy Corp. during the second quarter valued at about $1,991,000. Finally, Bank of Montreal Can acquired a new position in shares of Pengrowth Energy Corp. during the second quarter valued at about $1,336,000. Hedge funds and other institutional investors own 17.49% of the company’s stock.

Pengrowth Energy Corp. Company Profile

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