Penn West Petroleum Ltd (PWT) Given Consensus Recommendation of “Hold” by Brokerages
Penn West Petroleum Ltd (TSE:PWT) (NYSE:PWE) has earned a consensus rating of “Hold” from the twelve research firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is C$2.52.
A number of equities research analysts recently issued reports on the company. Royal Bank Of Canada reissued a “sector perform” rating and set a C$2.50 price target on shares of Penn West Petroleum in a research report on Friday. BMO Capital Markets reissued an “underperform” rating and set a C$2.00 price target on shares of Penn West Petroleum in a research report on Thursday, June 8th. TD Securities raised Penn West Petroleum from a “hold” rating to a “buy” rating and increased their price target for the stock from C$2.75 to C$3.00 in a research report on Thursday, March 16th. Raymond James Financial, Inc. increased their price target on Penn West Petroleum from C$2.50 to C$2.75 and gave the stock a “market perform” rating in a research report on Monday, June 12th. Finally, Canaccord Genuity reissued a “hold” rating and set a C$2.10 price target on shares of Penn West Petroleum in a research report on Monday, June 5th.
In other Penn West Petroleum news, Director John Brydson bought 250,000 shares of the business’s stock in a transaction on Thursday, April 13th. The stock was purchased at an average cost of C$1.60 per share, for a total transaction of C$400,000.00.
Penn West Petroleum (PWT) traded down 2.30% during trading on Tuesday, hitting $1.70. The company had a trading volume of 961,372 shares. The stock has a 50-day moving average of $1.96 and a 200 day moving average of $2.19. The company’s market capitalization is $857.31 million. Penn West Petroleum has a one year low of $1.57 and a one year high of $2.72.
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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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