Pengrowth Energy Co. (TSE:PGF) (NYSE:PGH) dropped 6.4% on Monday . The stock traded as low as C$1.10 and last traded at C$1.17. Approximately 1,444,998 shares traded hands during mid-day trading, an increase of 13% from the average daily volume of 1,279,023 shares. The stock had previously closed at C$1.10.
PGF has been the subject of several analyst reports. National Bank Financial reduced their target price on Pengrowth Energy from C$1.00 to C$0.80 and set a “sector perform” rating for the company in a report on Friday, September 8th. TD Securities reduced their target price on Pengrowth Energy from C$1.05 to C$0.85 and set a “hold” rating for the company in a report on Friday, September 8th. Royal Bank Of Canada lowered Pengrowth Energy from a “sector perform” rating to an “underperform” rating and boosted their target price for the stock from C$1.00 to C$1.15 in a report on Friday, November 10th. BMO Capital Markets restated a “market perform” rating and issued a C$1.25 target price on shares of Pengrowth Energy in a report on Tuesday, November 14th. Finally, Canaccord Genuity lowered Pengrowth Energy from a “hold” rating to a “sell” rating and boosted their target price for the stock from C$0.85 to C$0.90 in a report on Wednesday, October 4th. Six equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Sell” and a consensus target price of C$1.28.
In other Pengrowth Energy news, insider Seymour Schulich purchased 3,000,000 shares of the company’s stock in a transaction on Monday, September 25th. The shares were bought at an average cost of C$1.41 per share, with a total value of C$4,230,000.00.
Pengrowth Energy 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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