The Successful Investor, in the January, 2017, issue, says hold Pengrowth Energy Corp., recently $2.07. The Investor said buy 19 times from August, 2005, to September, 2015, at prices ranging from $1.71 to $26. Assuming a $1,000 investment for each of the 19 buys, the $19,000 position is now worth just $5,088. In this brief update, the Investor says Pengrowth produced 55,137 barrels of oil equivalent a day in the third quarter of 2016, down from 74,239 barrels a day in the same period a year earlier. The drop reflects sales of non-core assets as Pengrowth narrows its focus on the Lindbergh oil sands project in Alberta. Despite the decrease in production, cash flow remained steady at 22 cents a share, thanks to hedging gains and lower operating costs. Pengrowth remains a hold.
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