Shares of Penn West Petroleum Ltd (TSE:PWT) have earned an average recommendation of “Hold” from the eleven brokerages that are currently covering the stock. Seven investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is C$1.97.

PWT has been the topic of several recent analyst reports. Royal Bank Of Canada boosted their target price on shares of Penn West Petroleum from C$2.30 to C$2.50 and gave the company a “sector perform” rating in a research note on Thursday, September 8th. Desjardins restated a “hold” rating and issued a C$1.75 target price on shares of Penn West Petroleum in a research note on Tuesday, June 14th. Scotiabank restated a “sector perform” rating and issued a C$2.00 target price on shares of Penn West Petroleum in a research note on Friday, August 5th. FirstEnergy Capital upgraded shares of Penn West Petroleum from an “underperform” rating to a “market perform” rating and upped their price target for the stock from C$1.50 to C$1.75 in a research report on Saturday, August 6th. Finally, BMO Capital Markets upped their price target on shares of Penn West Petroleum from C$1.90 to C$2.00 in a research report on Thursday, June 30th.

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Penn West Petroleum (TSE:PWT) traded up 1.29% on Wednesday, hitting $2.36. 884,777 shares of the stock traded hands. The company’s 50 day moving average price is $2.09 and its 200-day moving average price is $1.56. Penn West Petroleum has a 12-month low of $0.60 and a 12-month high of $2.46. The stock’s market capitalization is $1.19 billion.

About Penn West Petroleum

Penn West Petroleum Ltd. (Penn West) is an exploration and production company. The Company 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.

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