Penn West Petroleum Ltd (PWE) has risen sharply, recording gains of 27.56% in the past 4 weeks. However, the stock has corrected -5.81% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 27.83% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
Company shares have received an average consensus rating of Hold for the current week The stock has recorded a twenty day Moving Average of 7.86% and the fifty day Moving Average is 13.18%. Penn West Petroleum Ltd. is up 134.78% in the last three month period. Year-to-Date the stock performance stands at 92.86%.
Penn West Petroleum Ltd (NYSE:PWE): The stock was completely flat for the day, closing at $1.62 on Friday. The flat closing masks the intraday volatility in the stock. After opening at $1.60, the stock touched an intraday high of $1.67 and a low of $1.60. Neither the bulls nor the bears asserted their supremacy at close, due to which the stock closed completely flat. The stock previously closed at $1.62. The total trading volume on Friday was 1,620,042.
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.