Shares are trading at $1.08 which is quite a bit above the 50 day moving average which is $0.97 and significantly higher than the 200 day moving average of $0.83. The 50 day moving average went up $0.11 or +11.34% and the 200 day average was up $0.25. (NYSE:PGH) shares saw heavy trading volume with 782K shares changing hands by the end of trading on Tuesday. Overall, volume was up 29.53% over the stocks normal daily volume.
Traders are a little more bullish on Pengrowth Energy Corporation of late as inferred by the decrease in short interest. The stock saw a fall in short interest of -17.01% as of October 13, 2017 from the last reporting period. Short interest fell from 13,709,405 to 11,377,794 over that period. Days to cover increased 10.0 to 16.0 and the percentage of shorted shares is 0.02% as of October 13.
These firms have modified their investment in PGH. As of quarter end Scotia Capital Inc. had sold 166,244 shares trimming its holdings by 26.9%. The value of the total investment in Pengrowth Energy Corporation went from $618,000 to $356,000 a change of $262,000 for the reporting period. As of the end of the quarter Toronto Dominion Bank had disposed of a total of 35,758 shares trimming its stake by 99.9%. The value of the company’s investment in Pengrowth Energy Corporation decreased from $36,000 to $0 a change of 100.0% quarter over quarter.
As of quarter end Wfg Advisors, Lp had acquired a total of 11,257 shares growing its position 134.6%. The value of the investment in PGH went from $8,000 to $15,000 increasing 87.5% quarter to quarter. Vanguard Group Inc added to its stake by buying 38,356 shares an increase of 137.0%. Vanguard Group Inc now controls 66,356 shares worth $52,000. The total value of its holdings increased 85.7%.
In the last earnings report the EPS was $-0.72 and is expected to be $-0.56 for the current year with 552,245,000 shares outstanding. Next quarter’s EPS is expected be $-0.02 and the next full year EPS is projected to be $-0.15.
Pengrowth Energy Corporation engages in the acquisition, exploration, development, and production of oil and natural gas assets in the Alberta, British Columbia, Saskatchewan, and Nova Scotia provinces in Canada. It explores for crude oil, bitumen, natural gas, shale gas, and natural gas liquids. The company primarily holds a 100% interests in the Lindbergh oil sands property covering an area of 20,800 net acres situated in Calgary, Alberta; and a 90% interests in the Groundbirch property covering an area of 12,536 net acres located in Fort St. John, British Columbia. Its principal assets also comprise Greater Olds/Garrington area located in Calgary, Alberta; and the Swan Hills area situated in Edmonton, Alberta. As of December 31, 2015, the company had total proved plus probable reserves of 569.1 millions of barrels of oil equivalent. Pengrowth Energy Corporation was founded in 1988 and is headquartered in Calgary, Canada..