TD Securities Analysts Set Pengrowth Energy Corp (PGF) a C$1.20 Target Price

TD Securities Analysts Set Pengrowth Energy Corp (PGF) a C$1.20 Target Price

Pengrowth Energy Corp (TSE:PGF) (NYSE:PGH) has been given a C$1.20 price target by equities research analysts at TD Securities in a note issued to investors on Tuesday. The brokerage currently has a “reduce” rating on the stock. TD Securities’ price objective would indicate a potential downside of 16.08% from the company’s current price.

Several other equities analysts also recently commented on the stock. Scotiabank decreased their price objective on shares of Pengrowth Energy Corp from C$2.00 to C$1.50 and set an “underperform” rating on the stock in a report on Monday. Raymond James Financial, Inc. reiterated an “outperform” rating and issued a C$1.75 price objective on shares of Pengrowth Energy Corp in a report on Monday. Royal Bank of Canada upgraded shares of Pengrowth Energy Corp from an “under perform” rating to a “sector perform” rating and set a C$1.75 price objective on the stock in a report on Tuesday, March 21st. Finally, Desjardins upped their price objective on shares of Pengrowth Energy Corp from C$2.25 to C$2.50 in a report on Wednesday, December 21st. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of C$1.86.

Shares of Pengrowth Energy Corp (TSE:PGF) traded down 3.50% during trading on Tuesday, reaching $1.38. 949,163 shares of the company traded hands. The company has a 50-day moving average of $1.58 and a 200-day moving average of $1.87. Pengrowth Energy Corp has a 12 month low of $1.28 and a 12 month high of $2.70. The stock’s market capitalization is $755.84 million.

In related news, insider Seymour Schulich acquired 1,000,000 shares of the firm’s stock in a transaction on Tuesday, February 7th. The shares were purchased at an average cost of C$1.65 per share, for a total transaction of C$1,650,000.00.

Pengrowth Energy Corp Company Profile

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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