Analyst Rating Update on Penn West Petroleum Ltd (PWE)

Penn West Petroleum Ltd (NYSE:PWE) : 1 Analyst considers the fundamentals to be worthy of a Buy recommendation. 3 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Penn West Petroleum Ltd (NYSE:PWE). Zacks Investment Research suggests a Sell with a rank of 4. 1 others believe that the stock has run up ahead of its fundamentals and advise a Strong Sell on the stock.The median of all the 5 Wall Street Analysts endorse the stock as a Hold with a rating of 3.2.

The shares have received a consensus rating of Sell for the current week Also, Equity analysts at the Brokerage firm Raymond James upgrades its rating on Penn West Petroleum Ltd (NYSE:PWE). The rating major has initiated the coverage with outperform rating on the shares. Earlier, the shares were rated a Underperform by the brokerage firm. The rating by the firm was issued on June 13, 2016.

Penn West Petroleum Ltd (NYSE:PWE): stock turned positive on Tuesday. Though the stock opened at $1.37, the bulls momentum made the stock top out at $1.41 level for the day. The stock recorded a low of $1.35 and closed the trading day at $1.36, in the green by 3.03%. The total traded volume for the day was 1,833,465. The stock had closed at $1.32 in the previous days trading.

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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Get Pre-Market Alerts!

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