Royal Bank Of Canada cut shares of Pengrowth Energy Corporation (NYSE:PGH) (TSE:PGF) from a sector perform rating to an underperform rating in a research report report published on Friday, MarketBeat reports.

Several other research analysts have also issued reports on the company. Zacks Investment Research raised Pengrowth Energy Corporation from a sell rating to a hold rating in a research report on Wednesday, October 18th. AltaCorp Capital lowered Pengrowth Energy Corporation from a sector perform rating to an underperform rating in a research report on Friday, October 6th. Canaccord Genuity lowered Pengrowth Energy Corporation from a hold rating to a sell rating in a research report on Wednesday, October 4th. ValuEngine lowered Pengrowth Energy Corporation from a sell rating to a strong sell rating in a research report on Monday, October 2nd. Finally, TD Securities lowered Pengrowth Energy Corporation from a hold rating to a reduce rating in a research report on Monday, October 2nd. Eight research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. The company currently has a consensus rating of Sell and a consensus target price of $1.99.

Shares of Pengrowth Energy Corporation (NYSE PGH) traded down $0.03 during trading hours on Friday, reaching $0.89. The company had a trading volume of 544,197 shares, compared to its average volume of 683,852. Pengrowth Energy Corporation has a 12 month low of $0.54 and a 12 month high of $1.76. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.60.

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Hedge funds have recently made changes to their positions in the company. Letko Brosseau & Associates Inc. increased its holdings in shares of Pengrowth Energy Corporation by 1.6% in the second quarter. Letko Brosseau & Associates Inc. now owns 42,924,106 shares of the oil and gas company’s stock valued at $33,713,000 after purchasing an additional 678,485 shares during the period. Vanguard Group Inc. increased its holdings in shares of Pengrowth Energy Corporation by 6.3% in the first quarter. Vanguard Group Inc. now owns 10,481,695 shares of the oil and gas company’s stock valued at $10,481,000 after purchasing an additional 617,564 shares during the period. JPMorgan Chase & Co. acquired a new position in shares of Pengrowth Energy Corporation in the first quarter valued at about $117,000. Cetera Investment Advisers acquired a new position in shares of Pengrowth Energy Corporation in the second quarter valued at about $1,906,000. Finally, UBS Asset Management Americas Inc. increased its holdings in shares of 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 purchasing an additional 57,600 shares during the period. 16.66% of the stock is currently owned by institutional investors and hedge funds.

About Pengrowth Energy Corporation

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.

Analyst Recommendations for Pengrowth Energy Corporation (NYSE:PGH)

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