Barclays Downgrades Pengrowth Energy Corp (USA) to Underweight

Brokerage firm Barclays Downgrades its rating on Pengrowth Energy Corp (USA)(NYSE:PGH). The shares have been rated Underweight. Previously, the analysts had a Equal-weight rating on the shares. The rating by Barclays was issued on Jul 22, 2016.

Pengrowth Energy Corp (USA) (PGH) shares turned negative on Thursdays trading session with the shares closing down -0.01 points or -0.68% at a volume of 17,43,604. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $1.5. The peak price level was also seen at $1.5 while the days lowest was $1.43. Finally the shares closed at $1.46. The 52-week high of the shares is $2.0833 while the 52-week low is $0.45. According to the latest information available, the market cap of the company is $799 M.

Pengrowth Energy Corp (USA)(PGH) last announced its earnings results on May 3, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $114.20M. Analysts had an estimated revenue of $144.83M. Earnings per share were $0.20. Analysts had estimated an EPS of $0.06.

Pengrowth Energy Corporation is engaged in the production development exploration and acquisition of oil and natural gas assets. The Company is focused on further developing the Lindbergh Thermal Project located in East Central Alberta near Cold Lake. The Company’s principal conventional operations include Greater Olds/Garrington Area where the Company holds a continuous land base with over 800 gross sections of Cardium-access rights infrastructure and operatorship; Swan Hills Trend a conventional oil resource which provides it with opportunities to put its technical experience of carbonate reservoirs to work on its operated interests in Judy Creek Carson Creek Deer Mountain Virginia Hills and Sawn Lake where Pengrowth has control of the infrastructure and Bernadet Montney where it has more than 50 gross sections of Montney land with liquids content.

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