The stock of Penn West Petroleum Ltd (TSE:PWT) is a huge mover today! About 616,896 shares traded hands. Penn West Petroleum Ltd (TSE:PWT) has risen 70.90% since March 11, 2016 and is uptrending. It has outperformed by 65.41% the S&P500.
The move comes after 7 months positive chart setup for the $1.08B company. It was reported on Oct, 18 by Barchart.com. We have $3.34 PT which if reached, will make TSE:PWT worth $486.00M more.
Penn West Petroleum Ltd (TSE:PWT) Ratings Coverage
Out of 6 analysts covering Penn West Petroleum (TSE:PWT), 0 rate it a “Buy”, 3 “Sell”, while 3 “Hold”. This means 0 are positive. $2.75 is the highest target while $0.55 is the lowest. The $1.38 average target is -40.00% below today’s ($2.3) stock price. Penn West Petroleum has been the topic of 25 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm earned “Equal-Weight” rating on Friday, July 22 by Barclays Capital. Dundee Securities downgraded it to “Sell” rating and $0.55 target price in Tuesday, January 12 report. RBC Capital Markets maintained the stock with “Underperform” rating in Friday, January 29 report. The rating was maintained by Raymond James on Monday, June 6 with “Underperform”. On Friday, September 16 the stock rating was upgraded by TD Securities to “Hold”. Scotia Capital maintained Penn West Petroleum Ltd (TSE:PWT) on Wednesday, September 2 with “Underperform” rating. TD Securities maintained it with “Reduce” rating and $1.20 target price in Wednesday, September 2 report.
More recent Penn West Petroleum Ltd (TSE:PWT) news were published by: Seekingalpha.com which released: “Penn West Petroleum’s Rally Will Strengthen” on October 13, 2016. Also Business.Financialpost.com published the news titled: “Bankers Petroleum CEO David French to take top job at Penn West Petroleum” on October 04, 2016. Seekingalpha.com‘s news article titled: “Penn West: Massive Potential For Gains” with publication date: September 27, 2016 was also an interesting one.
Penn West Petroleum Ltd. is an exploration and production company. The company has a market cap of $1.08 billion. The Firm operates in the segment of exploring for, developing and holding interests in oil and natural gas properties, and related production infrastructure in the Western Canada Sedimentary Basin directly and through investments in securities of subsidiaries holding such interests. It currently has negative earnings. Penn West owns the petroleum and natural gas assets or over 100% of the equity, directly or indirectly, of the entities that carry on the remainder of the oil and natural gas business of Penn West, except for an unincorporated joint arrangement (the Peace River Oil Partnership).
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