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 on Thursday, January 4th. The brokerage presently has a $1.00 price target on the oil and gas company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 23.46% 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. “

Several other analysts have also weighed in on the company. TD Securities lowered Pengrowth Energy from a “hold” rating to a “reduce” rating in a report on Monday, October 2nd. Canaccord Genuity downgraded Pengrowth Energy from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. AltaCorp Capital raised Pengrowth Energy from an “underperform” rating to a “sector perform” rating in a research note on Wednesday, December 13th. ValuEngine lowered Pengrowth Energy from a “sell” rating to a “strong sell” rating in a research report on Monday, October 2nd. Finally, Royal Bank of Canada lowered Pengrowth Energy from a “sector perform” rating to an “underperform” rating in a research report on Friday, November 10th. Six research analysts have rated the stock with a sell rating and three have given a hold rating to the company. Pengrowth Energy presently has a consensus rating of “Sell” and a consensus target price of $1.50.

Pengrowth Energy (NYSE PGH) opened at $0.81 on Thursday. Pengrowth Energy has a 52-week low of $0.54 and a 52-week high of $1.37. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.60.

Pengrowth Energy (NYSE:PGH) (TSE:PGF) last issued its quarterly earnings results on Thursday, November 9th. The oil and gas company reported ($0.22) earnings per share for the quarter. The firm had revenue of $73.00 million during the quarter. Pengrowth Energy had a negative net margin of 101.66% and a negative return on equity of 38.22%. equities analysts anticipate that Pengrowth Energy will post -0.79 EPS for the current year.

Several institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada lifted its position in shares of Pengrowth Energy by 0.7% during the 2nd 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. Guardian Capital Advisors LP lifted its position in shares of Pengrowth Energy by 127.2% during the 2nd quarter. Guardian Capital Advisors LP now owns 105,995 shares of the oil and gas company’s stock worth $101,000 after buying an additional 59,340 shares during the period. Shell Asset Management Co. increased its holdings in Pengrowth Energy by 154.6% during 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. UBS Asset Management Americas Inc. increased its holdings in Pengrowth Energy by 49.5% during 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. Finally, Grace & White Inc. NY increased its holdings in Pengrowth Energy by 10.5% during the 3rd quarter. Grace & White Inc. NY now owns 3,511,892 shares of the oil and gas company’s stock valued at $3,617,000 after purchasing an additional 335,066 shares in the last quarter. Institutional investors and hedge funds own 14.43% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Pengrowth Energy (NYSE:PGH) Raised to Buy at Zacks Investment Research” was first reported by Marea Informative and is the property of of Marea Informative. If you are accessing this piece on another site, it was stolen and republished in violation of U.S. & international trademark and copyright law. The legal version of this piece can be viewed at https://www.mareainformativa.com/2018/01/30/pengrowth-energy-pgh-raised-to-buy-at-zacks-investment-research-updated-updated-updated.html.

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.

Get a free copy of the Zacks research report on Pengrowth Energy (PGH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Pengrowth Energy (NYSE:PGH)

Receive News & Ratings for Pengrowth Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pengrowth Energy and related companies with MarketBeat.com's FREE daily email newsletter.