Shares of Pengrowth Energy Corp (NYSE:PGH) (TSE:PGF) have earned an average recommendation of “Sell” from the nine research firms that are currently covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company.
Several analysts recently weighed in on PGH shares. Zacks Investment Research upgraded Pengrowth Energy from a “hold” rating to a “buy” rating and set a $1.00 price target on the stock in a report on Thursday, January 4th. Canaccord Genuity upgraded Pengrowth Energy from a “sell” rating to a “hold” rating in a report on Tuesday, February 13th. AltaCorp Capital upgraded Pengrowth Energy from an “underperform” rating to a “sector perform” rating in a report on Wednesday, December 13th. Finally, Royal Bank of Canada lowered Pengrowth Energy from a “sector perform” rating to an “underperform” rating in a report on Friday, November 10th.
A number of hedge funds have recently added to or reduced their stakes in PGH. Mackenzie Financial Corp increased its stake in Pengrowth Energy by 4,161.5% in the fourth quarter. Mackenzie Financial Corp now owns 2,322,500 shares of the oil and gas company’s stock worth $1,845,000 after purchasing an additional 2,268,000 shares during the period. Schroder Investment Management Group increased its stake in Pengrowth Energy by 61.6% in the third quarter. Schroder Investment Management Group now owns 1,716,000 shares of the oil and gas company’s stock worth $2,231,000 after purchasing an additional 653,900 shares during the period. Diversified Investment Strategies LLC purchased a new stake in Pengrowth Energy in the third quarter worth $385,000. Grace & White Inc. NY increased its stake in Pengrowth Energy by 10.5% in the third quarter. Grace & White Inc. NY now owns 3,511,892 shares of the oil and gas company’s stock worth $3,617,000 after purchasing an additional 335,066 shares during the period. Finally, UBS Asset Management Americas Inc. increased its stake in Pengrowth Energy 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 worth $338,000 after purchasing an additional 142,500 shares during the period. Institutional investors and hedge funds own 14.74% 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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