Pengrowth Energy Corporation (NYSE:PGH) (TSE:PGF) rose 2.9% on Wednesday . The stock traded as high as $1.05 and last traded at $1.01. Approximately 698,742 shares changed hands during mid-day trading, a decline of 13% from the average daily volume of 804,042 shares. The stock had previously closed at $1.04.

PGH has been the topic of several recent analyst reports. Natixis downgraded shares of Pengrowth Energy Corporation from a “buy” rating to a “neutral” rating in a research note on Thursday, June 22nd. Raymond James Financial, Inc. downgraded shares of Pengrowth Energy Corporation from a “market perform” rating to an “underperform” rating in a research note on Wednesday, July 5th. Canaccord Genuity downgraded shares of Pengrowth Energy Corporation from a “speculative buy” rating to a “hold” rating in a research note on Tuesday, July 11th. ValuEngine downgraded shares of Pengrowth Energy Corporation from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 16th. Finally, Zacks Investment Research downgraded shares of Pengrowth Energy Corporation from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. Six analysts have rated the stock with a sell rating and four have given a hold rating to the company. The stock has a consensus rating of “Sell” and a consensus price target of $2.06.

The firm’s market cap is $585.38 million. The company’s 50-day moving average price is $0.76 and its 200-day moving average price is $0.84.

Several hedge funds have recently added to or reduced their stakes in the stock. TD Asset Management Inc. increased its stake in shares of Pengrowth Energy Corporation by 0.7% during the first quarter. TD Asset Management Inc. now owns 160,118 shares of the oil and gas company’s stock worth $160,000 after buying an additional 1,153 shares during the period. Royal Bank of Canada increased its stake in shares of Pengrowth Energy Corporation by 0.7% during the second quarter. Royal Bank of Canada now owns 1,217,285 shares of the oil and gas company’s stock worth $961,000 after buying an additional 8,605 shares during the period. Creative Planning increased its stake in shares of Pengrowth Energy Corporation by 6.9% during the second quarter. Creative Planning now owns 135,218 shares of the oil and gas company’s stock worth $107,000 after buying an additional 8,766 shares during the period. Bank of America Corp DE increased its stake in shares of Pengrowth Energy Corporation by 8.9% during the first quarter. Bank of America Corp DE now owns 162,905 shares of the oil and gas company’s stock worth $163,000 after buying an additional 13,320 shares during the period. Finally, Credit Suisse AG increased its stake in shares of Pengrowth Energy Corporation by 5.5% during the first quarter. Credit Suisse AG now owns 514,609 shares of the oil and gas company’s stock worth $515,000 after buying an additional 27,039 shares during the period. Hedge funds and other institutional investors own 16.72% of the company’s stock.

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Pengrowth Energy Corporation 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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