Home / Street Sector / Short Call at News Buzzer: Bank of America (NYSE:BAC), Pengrowth Energy (NYSE:PGH)

Short Call at News Buzzer: Bank of America (NYSE:BAC), Pengrowth Energy (NYSE:PGH)

Several matter pinch shares of Bank of America Corporation (NYSE:BAC) [Trend Analysis], as shares surging 0.68% to $16.22 with a share volume of 75.79 Million. Bank of America Corp. (BAC) appointedAndy Sieg as the next head of its Merrill Lynch unit at a crucial time when the brokerage industry is working to comply with sweeping new rules affecting retirement savers. Mr. Sieg, presently the head of retirement solutions at the bank’s global wealth and investing unit, is taking over the role on Jan. 1 He is replacing John Thiel, who is 56 years old and staying within Bank of America as vice chairman… The stock is going forward its 52-week low with 49.34% and moving down from its 52-week high price with -9.01%. The float short ratio was 0.92%, as compared to sentiment indicator; Short Ratio was 1.13.

Shares of Pengrowth Energy Corporation (NYSE:PGH) [Trend Analysis] runs in leading trade, it surging 1.20% to traded at $1.68. The firm has price volatility of 4.76% for a week and 5.50% for a month. Its beta stands at 2.22 times. Pengrowth Energy Corporation (PGH) released that GLJ Petroleum Consultants Ltd. (GLJ) has provided an update of bitumen reserves and contingent resources for its 100 percent owned Lindbergh project in east central Alberta, as of September 30, 2016. The reserves and resources update reflects the successful application authorization allowing for the expansion of the project to 30,000 barrels per day (bbl per day), coupled with ongoing positive production performance.

The updated report highlights changes in reserves and resources as a result of the authorization of the Phase Two expansion as well as the addition of reserves associated with, future infill wells and the Cyclic Steam Stimulation area. Overall, an additional 44.5 million barrels (MMbbls) of bitumen are being attributed to Proved (1P) reserves, primarily due to the reclassification of probable reserves to the proved category, as a result of the Phase Two expansion authorization . This represents a 43 percent raise to 1P reserves from year end 2015, to a volume of 147.9 MMbbls. Proved plus Probable (2P) reserves at Lindbergh surged by 21 percent from year end 2015, to a volume of 319.1 MMbbls. Narrow down four to firm performance, its weekly performance was 7.69% and monthly performance was 3.07%. The stock price of PGH is moving up from its 20 days moving average with 9.55% and isolated positively from 50 days moving average with 9.75%.


About Blake Escott

Blake Escott holds junior writer position in SWR. Before joining Streetwise Report, he was a freelance content Writer. He has high-level copywriting experience and particularly experienced in proofreading and editing. He covers news about different companies including all US market sectors. Interests: Commodities, Energy stocks, Sector-wise Stocks analysis, Utilities

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