CIBC Lowers Pengrowth Energy (TSE:PGF) Price Target to C$0.20

Pengrowth Energy (TSE:PGF) (NYSE:PGH) had its price target decreased by CIBC from C$0.30 to C$0.20 in a research report issued on Tuesday, BayStreet.CA reports. CIBC’s price target would suggest a potential downside of 4.76% from the company’s current price.

A number of other research analysts have also weighed in on the company. National Bank Financial reduced their price objective on Pengrowth Energy from C$0.50 to C$0.35 and set an “underperform” rating for the company in a research report on Wednesday, October 2nd. BMO Capital Markets reduced their price objective on Pengrowth Energy from C$0.60 to C$0.50 in a research report on Friday, August 9th. Finally, Raymond James reaffirmed an “underperform” rating and set a C$0.50 price objective on shares of Pengrowth Energy in a research report on Monday, August 12th. Five analysts have rated the stock with a sell rating, Pengrowth Energy currently has an average rating of “Sell” and an average target price of C$0.49.

Shares of TSE:PGF traded down C$0.02 during trading on Tuesday, hitting C$0.21. The stock had a trading volume of 239,264 shares, compared to its average volume of 426,578. Pengrowth Energy has a 12 month low of C$0.20 and a 12 month high of C$0.99. The company has a market capitalization of $112.00 million and a PE ratio of -0.19. The firm’s fifty day moving average is C$0.28 and its 200 day moving average is C$0.45. The company has a quick ratio of 0.09, a current ratio of 0.21 and a debt-to-equity ratio of 528.83.

Pengrowth Energy (TSE:PGF) (NYSE:PGH) last posted its quarterly earnings data on Thursday, August 8th. The company reported C($0.16) earnings per share for the quarter. The company had revenue of C$144.40 million during the quarter. Equities research analysts expect that Pengrowth Energy will post -0.29 EPS for the current fiscal year.

Pengrowth Energy Company Profile

Pengrowth Energy Corporation, a resource company, explores for, develops, and produces 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. Its principal producing properties are the Lindbergh thermal property covering an area of 20,800 net acres located in Alberta; and Groundbirch property totaling an area of 12,536 net acres located to the south west of Fort St.

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