Pengrowth Energy (TSE:PGF) Shares Down 16.7%

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Pengrowth Energy Corp (TSE:PGF) (NYSE:PGH)’s share price dropped 16.7% during trading on Tuesday . The stock traded as low as C$0.05 and last traded at C$0.05, approximately 136,136 shares traded hands during mid-day trading. A decline of 77% from the average daily volume of 597,403 shares. The stock had previously closed at C$0.06.

Several equities analysts have recently weighed in on PGF shares. CIBC reduced their price objective on shares of Pengrowth Energy from C$0.30 to C$0.20 in a research report on Tuesday, October 15th. BMO Capital Markets dropped their target price on shares of Pengrowth Energy from C$0.60 to C$0.50 in a report on Friday, August 9th. National Bank Financial downgraded shares of Pengrowth Energy from an “underperform” rating to a “tender” rating in a report on Monday, November 4th. Finally, Raymond James reissued an “underperform” rating and set a C$0.50 target price on shares of Pengrowth Energy in a research note on Monday, August 12th. Four equities research analysts have rated the stock with a sell rating, The stock has an average rating of “Sell” and an average target price of C$0.49.

The company has a quick ratio of 0.10, a current ratio of 0.23 and a debt-to-equity ratio of 2,854.44. The firm has a market capitalization of $28.01 million and a price-to-earnings ratio of -0.04. The stock’s 50 day moving average price is C$0.11 and its two-hundred day moving average price is C$0.34.

About Pengrowth Energy (TSE:PGF)

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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