Penn West Petroleum Ltd (PWE) : Zacks Investment Research ranks Penn West Petroleum Ltd (PWE) as 3, which is a Hold recommendation. 1 other analysts are mildly bullish on the stock and favor a Buy. 1 more believe that the stock has more downside risks, hence they propose a Strong Sell. A total of 3 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 5 research analysts is 3.2, which indicates as a Hold.
Also, Barclays upgrades its view on Penn West Petroleum Ltd (NYSE:PWE) according to the research report released by the firm to its investors. The shares have now been rated Equal-weight by the stock experts at the ratings house. Earlier, the shares had a rating of Underweight. The rating by the firm was issued on July 22, 2016.
Penn West Petroleum Ltd (NYSE:PWE): After opening at $1.62, the stock dipped to an intraday low of $1.6 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $1.73 and the buying power remained strong till the end. The stock closed at $1.7 for the day, a gain of 5.59% for the day session. The total traded volume was 3,123,522. The stocks close on the previous trading day was $1.61.
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.