Pengrowth Energy (NYSE:PGH) (TSE:PGF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

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. “

PGH has been the subject of several other reports. Royal Bank of Canada cut Pengrowth Energy from a “sector perform” rating to an “underperform” rating in a research note on Friday, November 10th. AltaCorp Capital cut Pengrowth Energy from a “sector perform” rating to an “underperform” rating in a research note on Friday, October 6th. ValuEngine upgraded Pengrowth Energy from a “strong sell” rating to a “sell” rating in a research note on Friday, September 22nd. Canaccord Genuity cut Pengrowth Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. Finally, TD Securities cut Pengrowth Energy from a “hold” rating to a “reduce” rating in a research note on Monday, October 2nd. Six equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The company presently has a consensus rating of “Sell” and a consensus target price of $1.50.

Shares of Pengrowth Energy (NYSE:PGH) opened at $0.88 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $489.58, a P/E ratio of -1.07 and a beta of 2.37. Pengrowth Energy has a 12 month low of $0.54 and a 12 month high of $1.45.

Institutional investors and hedge funds have recently made changes to their positions in the business. Guardian Capital Advisors LP raised its position in Pengrowth Energy by 127.2% during 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 purchasing an additional 59,340 shares in the last quarter. Shell Asset Management Co. raised its position in Pengrowth Energy by 154.6% during the third quarter. Shell Asset Management Co. now owns 148,424 shares of the oil and gas company’s stock valued at $871,000 after purchasing an additional 90,124 shares in the last quarter. Diversified Investment Strategies LLC acquired a new position in Pengrowth Energy during the third quarter valued at approximately $385,000. UBS Asset Management Americas Inc. raised its position in Pengrowth Energy by 49.5% during 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 purchasing an additional 142,500 shares in the last quarter. Finally, Royal Bank of Canada raised its position in Pengrowth Energy by 0.7% during 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 purchasing an additional 8,605 shares in the last quarter. Institutional investors and hedge funds own 14.46% of the company’s stock.

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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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