Company Shares of Penn West Petroleum Ltd Rally 47.84%

Penn West Petroleum Ltd (NYSE:PWE) has climbed 47.84% in the past week and advanced 97.1% in the last 4 weeks. In the past week, the company has outperformed the S&P 500 by 49.62% and the outperformance has advanced to 95.3% for the last 4 weeks period.

Penn West Petroleum Ltd (NYSE:PWE): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $1.37 and $1.31 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $1.39. The buying momentum continued till the end and the stock did not give up its gains. It closed at $1.36, notching a gain of 3.82% for the day. The total traded volume was 3,757,482 . The stock had closed at $1.31 on the previous day.

The company shares have dropped -22.29% from its 1 Year high price. On Jun 24, 2015, the shares registered one year high at $1.90 and the one year low was seen on Sep 30, 2015. The 50-Day Moving Average price is $0.89 and the 200 Day Moving Average price is recorded at $0.90.

Many analysts have stated their opinion on the company shares. Raymond James upgrades their rating on the shares of Penn West Petroleum Ltd (NYSE:PWE). The current rating of the shares is Outperform. Earlier, the shares were rated a Underperform by the brokerage firm. The rating by the firm was issued on June 13, 2016. Institutional Investors own 13.15% of Penn West Petroleum Ltd shares.

Penn West Petroleum Ltd. (Penn West) is a Canada-based senior exploration and production company. The Company operates to explore for, develop and hold 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. The Companys portfolio of properties includes both unitized and non-unitized oil and natural gas production. The properties contain long-life, low-decline-rate reserves and include interests in several oil and gas fields. The majority of its proved plus probable reserves are located in Canada in Alberta, British Columbia, Saskatchewan, Manitoba and the Northwest Territories. It also has minor proved plus probable reserves interests in the United States in Wyoming. Penn West operates under the trade names of Penn West and Penn West Exploration.

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