Pengrowth Energy Co. (PGF) Receives Market Perform Rating from BMO Capital Markets
Pengrowth Energy Co. (TSE:PGF) (NYSE:PGH)‘s stock had its “market perform” rating reaffirmed by BMO Capital Markets in a report released on Tuesday. They presently have a C$1.25 target price on the stock. BMO Capital Markets’ price objective points to a potential upside of 5.93% from the stock’s previous close.
Several other equities research analysts also recently commented on the company. Royal Bank Of Canada downgraded Pengrowth Energy from a “sector perform” rating to an “underperform” rating and lifted their price objective for the stock from C$1.00 to C$1.15 in a report on Friday. National Bank Financial lifted their price objective on Pengrowth Energy from C$1.00 to C$1.30 and gave the stock a “sector perform” rating in a report on Friday. AltaCorp Capital downgraded Pengrowth Energy from a “sector perform” rating to an “underperform” rating in a report on Friday, October 6th. Canaccord Genuity downgraded Pengrowth Energy from a “hold” rating to a “sell” rating and lifted their price objective for the stock from C$0.85 to C$0.90 in a report on Wednesday, October 4th. Finally, TD Securities downgraded Pengrowth Energy from a “hold” rating to a “reduce” rating and reduced their price objective for the stock from C$0.85 to C$0.70 in a report on Monday, October 2nd. Six investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Sell” and an average price target of C$1.28.
Pengrowth Energy (PGF) traded down C$0.09 during midday trading on Tuesday, reaching C$1.18. The company had a trading volume of 1,418,954 shares, compared to its average volume of 1,313,482. Pengrowth Energy has a 52 week low of C$0.68 and a 52 week high of C$2.32.
In other news, insider Seymour Schulich bought 3,000,000 shares of the company’s stock in a transaction on Monday, September 25th. The shares were acquired at an average cost of C$1.41 per share, with a total value of C$4,230,000.00.
About Pengrowth Energy
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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