BMO Capital Markets Reiterates “C$1.20” Price Target for Pengrowth Energy (PGF)
BMO Capital Markets set a C$1.20 price target on Pengrowth Energy (TSE:PGF) (NYSE:PGH) in a research note issued to investors on Friday. The brokerage currently has a market perform rating on the stock.
Several other analysts have also weighed in on PGF. TD Securities lowered Pengrowth Energy from a hold rating to a reduce rating and lowered their target price for the company from C$0.85 to C$0.70 in a report on Monday, October 2nd. National Bank Financial lowered their target price on Pengrowth Energy from C$1.30 to C$1.20 and set a sector perform rating on the stock in a report on Tuesday, January 9th. AltaCorp Capital lowered Pengrowth Energy from a sector perform rating to an underperform rating in a report on Friday, October 6th. Canaccord Genuity lowered Pengrowth Energy from a hold rating to a sell rating and upped their target price for the company from C$0.85 to C$0.90 in a report on Wednesday, October 4th. Finally, Royal Bank of Canada lowered Pengrowth Energy from a sector perform rating to an underperform rating and upped their target price for the company from C$1.00 to C$1.15 in a report on Friday, November 10th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of C$1.13.
Pengrowth Energy (PGF) traded down C$0.04 during trading on Friday, reaching C$0.97. The company’s stock had a trading volume of 917,931 shares, compared to its average volume of 874,598. The firm has a market capitalization of $535.69, a price-to-earnings ratio of -0.94 and a beta of 1.91. Pengrowth Energy has a 12 month low of C$0.68 and a 12 month high of C$1.84.
In related news, insider Seymour Schulich acquired 3,000,000 shares of Pengrowth Energy stock in a transaction dated Tuesday, December 19th. The shares were acquired at an average cost of C$1.01 per share, for a total transaction of C$3,030,000.00.
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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