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Oil and Gas Stock Roundup: OPEC Optimism Brought These Oil Stocks Back to Life [The Motley Fool]

PENGROWTH ENERGY (PGH)  More Company Research Source: The Motley Fool
US:NYSE Investor Relations: pengrowth.com/investors/stock
PDF Several beaten-down oil producers surged double-digits this week on the hope that OPEC will provide some additional support for oil prices. What happened On the one hand, it was a relatively quiet week in the oil market. While crude oil notched its third straight week of gains, it only rose about 1% to just over $50 a barrel. On the other hand, oil investors seemed to eye next week's OPEC meeting with optimism, driving them to bid up several financially challenged oil stocks this week, according to data from S&P Global Market Intelligence . So what Beaten-down Canadian oil producer Pengrowth Energy ( NYSE:PGH ) led the way with a ferocious gain of more than 52% on the week. While Pengrowth Energy had no news-driven catalysts to ignite the rally, it has completed a slew of asset sales this year; those have helped lift some of the debt that has been a crushing weight on its financial situation. Overall, net debt is down 66% from the start of the year; the company [Read more]

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