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Pengrowth Energy (TSE:PGF) target price raised to $1.50, issued a research note today by RBC Capital Markets

Yesterday Pengrowth Energy (TSE:PGF) traded 1.47% higher at $1.89. The company’s 50-day moving average is $2.00 and its 200-day moving average is $2.01. The last stock close price is down 2.93% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time. 2,307,086 shares of the stock were exchanged, up from an average trading volume of 1,366,560

In a report released on Wednesday September 28, 2016 RBC Capital Markets increased the stock price target of Pengrowth Energy (TSE:PGF) from $1.25 to $1.50 reporting a possible downside of -0.21%.

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Pengrowth Energy (TSE:PGF)

Pengrowth Energy has a 52 week low of $0.66 and a 52 week high of $2.70 The company’s market cap is currently $0.

In addition to RBC Capital Markets reporting its target price, a total of 12 brokers have issued a report on the stock. The consensus target price is $1.48 with 0 brokers rating the stock a strong buy, 0 brokers rating the stock a buy, 7 brokers rating the stock a hold, 5 brokers rating the stock a underperform, and finally 1 broker rating the stock a sell.

General Information About Pengrowth Energy (TSE:PGF)

Pengrowth Energy Corporation is a resource company, which is engaged in the production, development, exploration and acquisition of oil and natural gas assets. The Company owns and operates Lindbergh thermal project, which is located in the Cold Lake area of Alberta and encompasses over 42.5 sections of land. The Company is focused on the Western Canadian Sedimentary Basin. The Company's conventional oil and gas portfolio includes a contiguous land base in the Greater Olds/Garrington area, encompassing over 480 gross sections of land, with opportunities in the Cardium, Viking and Mannville sands, as well as in the Mississippian carbonate section. The Company's asset, Groundbirch/Bernadet Montney natural gas is a gas resources play in North America, located in Bernadet. It also controls light oil accumulations in the Swan Hills area of northern Alberta. It has approximately 50 gross sections of Montney land with liquids content ranging from 0-75 barrel/million cubic feet (bbl/MMcf).

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