Pengrowth Energy Co. (PGF) Trading Up 6%

Shares of Pengrowth Energy Co. (TSE:PGF) (NYSE:PGH) were up 6% during mid-day trading on Thursday . The stock traded as high as C$1.00 and last traded at C$1.06. Approximately 893,469 shares changed hands during mid-day trading, a decline of 32% from the average daily volume of 1,311,317 shares. The stock had previously closed at C$1.00.

Several analysts recently issued reports on PGF shares. Royal Bank Of Canada reduced their price objective on shares of Pengrowth Energy from C$1.25 to C$1.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 15th. AltaCorp Capital lowered shares of Pengrowth Energy from a “sector perform” rating to an “underperform” rating in a report on Friday, October 6th. National Bank Financial reduced their price objective on shares of Pengrowth Energy from C$1.00 to C$0.80 and set a “sector perform” rating on the stock in a report on Friday, September 8th. TD Securities reduced their price objective on shares of Pengrowth Energy from C$1.10 to C$1.05 and set a “hold” rating on the stock in a report on Tuesday, August 15th. Finally, Barclays PLC reduced their price objective on shares of Pengrowth Energy from C$1.00 to C$0.50 in a report on Monday, July 24th. Six research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Sell” and an average price target of C$1.28.

In related news, insider Seymour Schulich acquired 3,000,000 shares of the stock in a transaction dated Monday, September 25th. The stock was acquired at an average cost of C$1.41 per share, with a total value of C$4,230,000.00.

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About Pengrowth Energy

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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