Company Shares of Penn West Petroleum Ltd (NYSE:PWE) Drops by -4.7%

Penn West Petroleum Ltd (NYSE:PWE) has risen sharply, recording gains of 54.37% in the past 4 weeks. However, the stock has corrected -4.7% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 51.91% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.

The company shares have dropped -5.96% from its 1 Year high price. On Jul 15, 2015, the shares registered one year high at $1.67 and the one year low was seen on Sep 30, 2015. The 50-Day Moving Average price is $1.12 and the 200 Day Moving Average price is recorded at $0.94.

The stock has recorded a 20-day Moving Average of 5.93% and the 50-Day Moving Average is 37.41%.


Penn West Petroleum Ltd (NYSE:PWE): stock turned positive on Friday. Though the stock opened at $1.45, the bulls momentum made the stock top out at $1.45 level for the day. The stock recorded a low of $1.41 and closed the trading day at $1.42, in the green by 2.16%. The total traded volume for the day was 2,123,973. The stock had closed at $1.39 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.

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