Zacks Investment Research upgraded shares of Pengrowth Energy Corporation (NYSE:PGH) (TSE:PGF) from a sell rating to a hold rating in a research report report published on Friday morning.

According to Zacks, “Pengrowth Energy Trust is a Canadian energy trust with crude oil and natural gas properties in the Western Canadian Sedimentary Basin and offshore the East Coast of Canada. “

A number of other research firms have also recently commented on PGH. Raymond James Financial, Inc. cut Pengrowth Energy Corporation from a market perform rating to an underperform rating in a research note on Wednesday, July 5th. AltaCorp Capital restated a sector perform rating on shares of Pengrowth Energy Corporation in a research note on Wednesday, May 3rd. Canaccord Genuity cut Pengrowth Energy Corporation from a speculative buy rating to a hold rating in a research note on Tuesday, July 11th. Natixis cut Pengrowth Energy Corporation from a buy rating to a neutral rating in a research note on Thursday, June 22nd. Finally, ValuEngine cut Pengrowth Energy Corporation from a sell rating to a strong sell rating in a research note on Wednesday, August 16th. Four research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The stock presently has an average rating of Hold and a consensus price target of $2.06.

Pengrowth Energy Corporation (PGH) traded down 0.8859% during trading on Friday, hitting $0.5818. The stock had a trading volume of 16,273 shares. The stock has a 50 day moving average price of $0.68 and a 200-day moving average price of $0.92. The stock’s market cap is $321.30 million. Pengrowth Energy Corporation has a 12 month low of $0.54 and a 12 month high of $1.77.

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Hedge funds have recently made changes to their positions in the stock. Cetera Investment Advisers bought a new stake in shares of Pengrowth Energy Corporation during the second quarter valued at about $1,906,000. Royal Bank of Canada boosted its stake in shares of Pengrowth Energy Corporation by 0.7% in the second quarter. Royal Bank of Canada now owns 1,217,285 shares of the oil and gas company’s stock valued at $961,000 after buying an additional 8,605 shares during the last quarter. Guardian Capital Advisors LP boosted its stake in shares of Pengrowth Energy Corporation by 127.2% in 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 buying an additional 59,340 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of Pengrowth Energy Corporation by 49.5% in the second quarter. UBS Asset Management Americas Inc. now owns 430,557 shares of the oil and gas company’s stock valued at $338,000 after buying an additional 142,500 shares during the last quarter. Finally, Letko Brosseau & Associates Inc. boosted its stake in shares of Pengrowth Energy Corporation by 1.6% in the second quarter. Letko Brosseau & Associates Inc. now owns 42,924,106 shares of the oil and gas company’s stock valued at $33,713,000 after buying an additional 678,485 shares during the last quarter. Institutional investors and hedge funds own 16.72% of the company’s stock.

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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