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

Pengrowth Energy Corp (TSE:PGF) (NYSE:PGH) had its target price decreased by investment analysts at Scotiabank from C$2.00 to C$1.50 in a note issued to investors on Monday. The brokerage presently has an “underperform” rating on the stock. Scotiabank’s target price would suggest a potential upside of 4.90% from the company’s current price.

A number of other research analysts also recently commented on PGF. Raymond James Financial, Inc. reaffirmed a “market perform” rating and set a C$2.00 price objective on shares of Pengrowth Energy Corp in a research note on Thursday, January 19th. TD Securities reaffirmed a “reduce” rating and set a C$1.60 price objective on shares of Pengrowth Energy Corp in a research note on Thursday, March 2nd. Finally, Royal Bank of Canada reaffirmed an “underperform” rating on shares of Pengrowth Energy Corp in a research note on Wednesday, March 1st. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of C$1.88.

Analyst Recommendations for Pengrowth Energy Corp (TSE:PGF)

Shares of Pengrowth Energy Corp (TSE:PGF) traded down 2.72% on Monday, reaching $1.43. 1,191,998 shares of the company were exchanged. Pengrowth Energy Corp has a 1-year low of $1.28 and a 1-year high of $2.70. The stock’s market capitalization is $783.22 million. The company has a 50-day moving average price of $1.59 and a 200 day moving average price of $1.88.

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In other Pengrowth Energy Corp news, insider Seymour Schulich bought 1,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 7th. The stock was purchased at an average price of C$1.65 per share, with a total value 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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