Pengrowth Energy (NYSE:PGH) (TSE:PGF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage presently has a $1.00 target price on the oil and gas company’s stock. Zacks Investment Research‘s price target points to a potential upside of 11.11% from the company’s current price.

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. “

A number of other equities analysts have also weighed in on PGH. ValuEngine lowered Pengrowth Energy from a “sell” rating to a “strong sell” rating in a research note on Monday, October 2nd. TD Securities lowered Pengrowth Energy from a “hold” rating to a “reduce” rating in a research note on Monday, October 2nd. Canaccord Genuity lowered Pengrowth Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. AltaCorp Capital lowered Pengrowth Energy from a “sector perform” rating to an “underperform” rating in a research note on Friday, October 6th. Finally, Royal Bank of Canada lowered Pengrowth Energy from a “sector perform” rating to an “underperform” rating in a research note on Friday, November 10th. Six research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Sell” and an average target price of $1.50.

Pengrowth Energy (PGH) opened at $0.90 on Wednesday. The stock has a market capitalization of $495.87, a price-to-earnings ratio of -1.08 and a beta of 2.37. Pengrowth Energy has a 52 week low of $0.54 and a 52 week high of $1.45. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 1.07.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PGH. Guardian Capital Advisors LP increased its stake in shares of Pengrowth Energy by 127.2% in the 2nd 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. UBS Asset Management Americas Inc. increased its stake in shares of Pengrowth Energy by 49.5% in the 2nd 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. Diversified Investment Strategies LLC purchased a new position in shares of Pengrowth Energy in the 3rd quarter valued at about $385,000. Shell Asset Management Co. increased its stake in shares of Pengrowth Energy by 154.6% in the 3rd 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. Finally, Royal Bank of Canada increased its stake in shares of Pengrowth Energy by 0.7% in the 2nd 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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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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