BMO Capital’s Take on This Canadian Energy Stock
The Materials sector company, Pengrowth Energy (PGF), has received a rating update from a Wall Street analyst today. Analyst Ray Kwan from BMO Capital rated Pengrowth Energy (PGF) a Hold, setting a C$0.50 price target.
According to TipRanks.com, Kwan ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -12.4% and a 28.8% success rate. Kwan covers the Basic Materials sector, focusing on stocks such as Tamarack Valley Energy Ltd, PrairieSky Royalty Ltd, and Pengrowth Energy Corp.
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Currently, the analyst consensus on Pengrowth Energy is a Moderate Sell with an average price target of C$0.40.
Based on Pengrowth Energy’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of C$31.6 million. In comparison, last year the company had a GAAP net loss of C$27.5 million.
Pengrowth Energy Corp. is a Canadian oil and natural gas exploration company. It engages in the development, acquisition, and exploration of oil and natural gas reserves in the provinces of Alberta, British Columbia, Saskatchewan and Nova Scotia. It focuses on the development of Western Canadian Sedimentary Basin.
The company’s shares closed on Friday at C$0.37, close to its 52-week low of C$0.37.