Morgan Stanley decreased its stake in Pengrowth Energy Corporation (NYSE:PGH) (TSE:PGF) by 37.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,325,873 shares of the oil and gas company’s stock after selling 1,418,233 shares during the period. Morgan Stanley owned 0.42% of Pengrowth Energy Corporation worth $2,326,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in PGH. JPMorgan Chase & Co. acquired a new stake in Pengrowth Energy Corporation during the first quarter valued at about $117,000. Albert D Mason Inc. boosted its stake in Pengrowth Energy Corporation by 128.2% in the first quarter. Albert D Mason Inc. now owns 152,784 shares of the oil and gas company’s stock valued at $153,000 after buying an additional 85,825 shares in the last quarter. TD Asset Management Inc. boosted its stake in Pengrowth Energy Corporation by 0.7% in the first quarter. TD Asset Management Inc. now owns 160,118 shares of the oil and gas company’s stock valued at $160,000 after buying an additional 1,153 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in Pengrowth Energy Corporation by 25.0% in the first quarter. UBS Asset Management Americas Inc. now owns 288,057 shares of the oil and gas company’s stock valued at $287,000 after buying an additional 57,600 shares in the last quarter. Finally, Norges Bank acquired a new stake in Pengrowth Energy Corporation during the fourth quarter valued at about $297,000. Hedge funds and other institutional investors own 17.60% of the company’s stock.
Pengrowth Energy Corporation (NYSE:PGH) traded up 0.824% during trading on Friday, reaching $0.587. The company’s stock had a trading volume of 331,024 shares. The firm’s market capitalization is $324.17 million. The stock has a 50-day moving average of $0.68 and a 200 day moving average of $0.92. Pengrowth Energy Corporation has a one year low of $0.54 and a one year high of $1.77.
PGH has been the subject of several research analyst reports. Raymond James Financial, Inc. cut Pengrowth Energy Corporation from a “market perform” rating to an “underperform” rating in a report on Wednesday, July 5th. Natixis cut Pengrowth Energy Corporation from a “buy” rating to a “neutral” rating in a report on Thursday, June 22nd. Canaccord Genuity cut Pengrowth Energy Corporation from a “speculative buy” rating to a “hold” rating in a report on Tuesday, July 11th. Zacks Investment Research upgraded Pengrowth Energy Corporation from a “sell” rating to a “hold” rating in a report on Friday. Finally, AltaCorp Capital restated a “sector perform” rating on shares of Pengrowth Energy Corporation in a report on Wednesday, May 3rd. Four equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $2.06.
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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