BMO Capital Markets Lowers Pengrowth Energy (PGF) Price Target to C$1.00

Pengrowth Energy (TSE:PGF) (NYSE:PGH) had its price objective cut by equities researchers at BMO Capital Markets from C$1.30 to C$1.00 in a report released on Friday. BMO Capital Markets’ price objective points to a potential upside of 8.70% from the company’s previous close.

Several other equities research analysts also recently issued reports on the company. National Bank Financial increased their price objective on Pengrowth Energy from C$1.10 to C$1.15 and gave the stock a “sector perform” rating in a research note on Friday, October 5th. TD Securities reduced their price objective on Pengrowth Energy from C$0.90 to C$0.80 and set a “reduce” rating for the company in a research note on Tuesday, August 7th. Finally, CIBC increased their price objective on Pengrowth Energy from C$0.90 to C$1.10 in a research note on Friday, July 20th. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Pengrowth Energy currently has an average rating of “Hold” and a consensus target price of C$1.03.

Shares of Pengrowth Energy stock opened at C$0.92 on Friday. The company has a debt-to-equity ratio of 97.62, a quick ratio of 0.25 and a current ratio of 0.33. Pengrowth Energy has a 1 year low of C$0.77 and a 1 year high of C$1.34.

In other Pengrowth Energy news, insider Seymour Schulich acquired 292,000 shares of Pengrowth Energy stock in a transaction that occurred on Monday, October 15th. The stock was purchased at an average cost of C$1.04 per share, with a total value of C$303,680.00. Over the last three months, insiders purchased 6,979,900 shares of company stock valued at $7,475,679.

Pengrowth Energy Company Profile

Pengrowth Energy Corporation engages in the acquisition, exploration, development, and production of oil and natural gas assets in Alberta, British Columbia, Saskatchewan, and Nova Scotia provinces in Canada. The company explores for crude oil, bitumen, natural gas, shale gas, and natural gas liquids.

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