Pengrowth Energy Corp (PGF) Target Price Lowered to C$1.50

Pengrowth Energy Corp (PGF) Target Price Lowered to C$1.50

Pengrowth Energy Corp (TSE:PGF) (NYSE:PGH) had its target price reduced by equities research analysts at Scotiabank from C$2.00 to C$1.50 in a report issued on Monday. The firm presently has an “underperform” rating on the stock. Scotiabank’s price target points to a potential upside of 4.90% from the stock’s current price.

A number of other research firms also recently weighed in on PGF. Desjardins boosted their price target on shares of Pengrowth Energy Corp from C$2.25 to C$2.50 in a research note on Wednesday, December 21st. TD Securities dropped their price target on shares of Pengrowth Energy Corp from C$1.60 to C$1.40 and set a “reduce” rating for the company in a research note on Tuesday, March 21st. Raymond James Financial, Inc. reissued an “outperform” rating and set a C$1.75 price target on shares of Pengrowth Energy Corp in a research note on Monday. Finally, Royal Bank of Canada reissued an “underperform” rating on shares of Pengrowth Energy Corp in a research note on Wednesday, March 1st. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of C$1.88.

Pengrowth Energy Corp (TSE:PGF) traded down 2.72% on Monday, hitting $1.43. 1,191,998 shares of the stock were exchanged. The stock’s market capitalization is $783.22 million. Pengrowth Energy Corp has a one year low of $1.28 and a one year high of $2.70. The company has a 50 day moving average of $1.58 and a 200 day moving average of $1.87.

In other news, insider Seymour Schulich bought 1,000,000 shares of the stock in a transaction on Wednesday, February 8th. The stock was purchased at an average price of C$1.69 per share, with a total value of C$1,690,000.00.

About Pengrowth Energy Corp

Pengrowth Energy Corporation is a resource company, which is engaged in the production, development, exploration and acquisition of oil and natural gas assets. The Company owns and operates Lindbergh thermal project, which is located in the Cold Lake area of Alberta and encompasses over 42.5 sections of land.

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