Penn West Petroleum Ltd (USA) (PWE) : Frontfour Capital Group reduced its stake in Penn West Petroleum Ltd (USA) by 29.92% during the most recent quarter end. The investment management company now holds a total of 13,834,903 shares of Penn West Petroleum Ltd (USA) which is valued at $20,614,005 after selling 5,905,274 shares in Penn West Petroleum Ltd (USA) , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Penn West Petroleum Ltd (USA) makes up approximately 8.52% of Frontfour Capital Group’s portfolio.
Other Hedge Funds, Including , Jane Street Group reduced its stake in PWE by selling 26,622 shares or 29.05% in the most recent quarter. The Hedge Fund company now holds 65,035 shares of PWE which is valued at $96,902.
Penn West Petroleum Ltd (USA) (PWE) witnessed a volatile trading activity on Thursday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $1.57 and reached the intraday high at $1.63. The bulls started the profit booking and pushed the shares to intraday low of $1.565. The trading session was marked by a volume range of 14,98,340 shares exchanging hands. The 52-week high of the shares is $1.78 and the 52-week low is $0.45. The market cap of the company stands at $798 M and there are 50,21,62,990 shares in public circulation.
On the company’s financial health, Penn West Petroleum Ltd (USA) reported $-3.20 EPS for the quarter, missing the analyst consensus estimate by $ -2.96 based on the information available during the earnings call on Mar 10, 2016. Analyst had a consensus of $-0.24. The company had revenue of $273.00 million for the quarter.The company’s revenue was down -42.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-3.57 EPS.
Many Wall Street Analysts have commented on Penn West Petroleum Ltd (USA). Company shares were Upgraded by Barclays on Jul 22, 2016 to ” Equal Weight”, Firm has raised the Price Target to $ 2 from a previous price target of $1.50 .Company shares were Upgraded by RBC Capital Mkts on Jun 27, 2016 to ” Sector Perform”, Firm has raised the Price Target to $ 2 from a previous price target of $0.90 .Penn West Petroleum Ltd (USA) was Upgraded by Raymond James to ” Outperform” on Jun 13, 2016.
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 Company’s 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.