Penn West Petroleum Upgraded by National Bank Financial to “Sector Perform” (PWT)
Penn West Petroleum (TSE:PWT) was upgraded by analysts at National Bank Financial from an “underperform” rating to a “sector perform” rating in a research report issued to clients and investors on Friday, Stock Ratings Network.com reports. The firm currently has a C$11.00 target price on the stock, up from their previous target price of C$9.00. National Bank Financial’s target price would indicate a potential upside of 6.28% from the stock’s previous close.
Shares of Penn West Petroleum (TSE:PWT) opened at 10.35 on Friday. Penn West Petroleum has a 52 week low of $7.82 and a 52 week high of $13.57. The stock’s 50-day moving average is $9.59 and its 200-day moving average is $9.40.
Penn West Petroleum (TSE:PWT) last issued its quarterly earnings data on Friday, May 2nd. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by $0.02.
A number of other firms have also recently commented on PWT. Analysts at NBF upgraded shares of Penn West Petroleum from an “underperform” rating to a “sector perform” rating in a research note on Friday. Separately, analysts at Dundee Securities reiterated a “sector perform” rating on shares of Penn West Petroleum in a research note on Friday. They now have a C$10.75 price target on the stock, up previously from C$10.25. Finally, analysts at Scotiabank reiterated a “sector perform” rating on shares of Penn West Petroleum in a research note on Tuesday, March 25th. Two equities research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company. The company presently has a consensus rating of “Hold” and an average target price of C$11.11.
Penn West Petroleum Ltd. (TSE:PWT), formerly Penn West Energy Trust is a Canadian exploration and production company.
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