Penn West Petroleum Ltd (NYSE:PWE) (TSE:PWT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

According to Zacks, “PENN WEST ENERGY TRUST is a senior oil and natural gas energy trust based in Calgary, Alberta. Penn West trust units and debentures are listed on the Toronto Stock Exchange under the symbols PWT.UN, PWT.DB.A, PWT.DB.B, PWT.DB.C, PWT.DB.D, PWT.DB.E and PWT.DB.F and Penn West trust units are listed on the New York Stock Exchange under the symbol PWE. “

A number of other equities research analysts have also weighed in on PWE. TD Securities upgraded shares of Penn West Petroleum from a “hold” rating to a “buy” rating in a research note on Wednesday, March 15th. AltaCorp Capital lowered shares of Penn West Petroleum from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, April 11th. Raymond James Financial, Inc. lowered shares of Penn West Petroleum from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 12th. Finally, ValuEngine upgraded shares of Penn West Petroleum from a “sell” rating to a “hold” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $2.27.

Analyst Recommendations for Penn West Petroleum (NYSE:PWE)

Shares of Penn West Petroleum (NYSE:PWE) opened at 1.56 on Wednesday. The company’s market cap is $784.32 million. Penn West Petroleum has a 12 month low of $0.63 and a 12 month high of $2.05. The company’s 50 day moving average price is $1.57 and its 200 day moving average price is $1.67.

Penn West Petroleum (NYSE:PWE) last announced its earnings results on Thursday, May 4th. The oil and gas company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.05. The business had revenue of $99.72 million during the quarter. Penn West Petroleum had a negative net margin of 243.12% and a negative return on equity of 58.05%. On average, equities analysts expect that Penn West Petroleum will post ($0.07) EPS for the current fiscal year.

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Large investors have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. raised its stake in Penn West Petroleum by 1.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 61,850 shares of the oil and gas company’s stock valued at $105,000 after buying an additional 1,026 shares during the period. Advisory Services Network LLC bought a new stake in Penn West Petroleum during the first quarter valued at approximately $111,000. Horizon Kinetics LLC raised its stake in Penn West Petroleum by 1.6% in the fourth quarter. Horizon Kinetics LLC now owns 63,562 shares of the oil and gas company’s stock valued at $113,000 after buying an additional 1,000 shares during the period. Two Sigma Securities LLC bought a new stake in Penn West Petroleum during the first quarter valued at approximately $115,000. Finally, HPM Partners LLC bought a new stake in Penn West Petroleum during the first quarter valued at approximately $178,000. Hedge funds and other institutional investors own 17.22% of the company’s stock.

Penn West Petroleum Company Profile

Penn West Petroleum Ltd. (Penn West) is a conventional oil and natural gas producer in Canada. The Company operates a portfolio of opportunities with an oil position in the Cardium, Viking and Peace River areas of Alberta. Penn West is a development and production company. During the fiscal year ended December 31, 2016, Penn West had produced 20 million barrels of oil equivalent (MMboe), consisting of eight million barrels (MMbbl) of light and medium crude oil, three MMbbl of heavy crude oil, 44 billion cubic feet (Bcf) of conventional natural gas and one MMbbl of natural gas liquids.

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