Penn West Petroleum Ltd (PWE) Shares are Up 2.94%

Penn West Petroleum Ltd (PWE) : Traders are bullish on Penn West Petroleum Ltd (PWE) as it has outperformed the S&P 500 by a wide margin of 3.85% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.4%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.94% in the last 1 week, and is up 1.74% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

The stock has recorded a 20-day Moving Average of 5.42% and the 50-Day Moving Average is 16.37%.The 200 Day SMA reached 62.28% Penn West Petroleum Ltd. is up 28.68% in the last 3-month period. Year-to-Date the stock performance stands at 108.33%.


Company shares have received an average consensus rating of Hold for the current week Penn West Petroleum Ltd (NYSE:PWE): The stock opened at $1.7 and touched an intraday high of $1.76 on Friday. During the day, the stock corrected to an intraday low of $1.649, however, the bulls stepped in and pushed the price higher to close in the green at $1.75 with a gain of 2.94% for the day. The total traded volume for the day was 1,633,702. The stock had closed at $1.75 in the previous trading session.

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.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.