Penn West Petroleum Ltd (PWE) has risen sharply, recording gains of 0.74% in the past 4 weeks. However, the stock has corrected -2.14% in the past 1 week, providing a good buying opportunity on dips. Penn West Petroleum Ltd (PWE) : During the past 4 weeks, traders have been relatively bearish on Penn West Petroleum Ltd (PWE), hence the stock is down -5.64% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -2.74% relative to the S&P 500.
Penn West Petroleum Ltd (NYSE:PWE): The stock opened at $1.41 on Friday but the bulls could not build on the opening and the stock topped out at $1.41 for the day. The stock traded down to $1.36 during the day, due to lack of any buying support eventually closed down at $1.37 with a loss of -0.72% for the day. The stock had closed at $1.38 on the previous day. The total traded volume was 815,058 shares.
The stock has recorded a 20-day Moving Average of 2.42% and the 50-Day Moving Average is 22.72%. Penn West Petroleum Ltd. is up 25.69% in the last 3-month period. Year-to-Date the stock performance stands at 63.1%.
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.