Penn West Petroleum Ltd (NYSE:PWE) (TSE:PWT) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

PWE has been the topic of a number of other research reports. TD Securities raised Penn West Petroleum from a “hold” rating to a “buy” rating in a research note on Wednesday, March 15th. Zacks Investment Research cut Penn West Petroleum from a “hold” rating to a “sell” rating in a research note on Wednesday, May 17th. Raymond James Financial, Inc. cut Penn West Petroleum from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 12th. AltaCorp Capital cut Penn West Petroleum from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, April 11th. Finally, Canaccord Genuity initiated coverage on Penn West Petroleum in a research note on Monday, June 5th. They issued a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $2.27.

Analyst Recommendations for Penn West Petroleum (NYSE:PWE)

Penn West Petroleum (NYSE:PWE) traded up 2.90% on Tuesday, hitting $1.42. The stock had a trading volume of 933,124 shares. The company has a 50-day moving average price of $1.48 and a 200-day moving average price of $1.65. Penn West Petroleum has a 52 week low of $0.90 and a 52 week high of $2.05. The stock’s market capitalization is $716.11 million.

Penn West Petroleum (NYSE:PWE) (TSE:PWT) last released its earnings results on Thursday, May 4th. The oil and gas company reported $0.04 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.05. The business had revenue of $99.72 million for the quarter. Penn West Petroleum had a negative return on equity of 22.87% and a negative net margin of 95.25%. Equities research analysts anticipate that Penn West Petroleum will post ($0.06) earnings per share for the current fiscal year.

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A number of hedge funds have recently bought and sold shares of the stock. 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 last quarter. 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 last quarter. Clear Harbor Asset Management LLC raised its stake in Penn West Petroleum by 3.1% in the first quarter. Clear Harbor Asset Management LLC now owns 291,450 shares of the oil and gas company’s stock valued at $495,000 after buying an additional 8,850 shares during the last quarter. WealthTrust Axiom LLC raised its stake in Penn West Petroleum by 6.3% in the first quarter. WealthTrust Axiom LLC now owns 336,500 shares of the oil and gas company’s stock valued at $572,000 after buying an additional 20,000 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in Penn West Petroleum by 12.8% in the first quarter. Bank of Montreal Can now owns 238,709 shares of the oil and gas company’s stock valued at $405,000 after buying an additional 27,118 shares during the last quarter. Institutional investors and hedge funds own 19.75% of the company’s stock.

About Penn West Petroleum

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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