Frontfour Capital Group buys $25,123,297 stake in Penn West Petroleum Ltd (USA) (PWE)

Penn West Petroleum Ltd (USA) (PWE) : Frontfour Capital Group scooped up 263,570 additional shares in Penn West Petroleum Ltd (USA) during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 16,002,100 shares of Penn West Petroleum Ltd (USA) which is valued at $25,123,297.Penn West Petroleum Ltd (USA) makes up approximately 13.54% of Frontfour Capital Group’s portfolio.

Other Hedge Funds, Including , Allianz Asset Management Ag added PWE to its portfolio by purchasing 64,087 company shares during the most recent quarter which is valued at $100,617.Alliancebernstein boosted its stake in PWE in the latest quarter, The investment management firm added 8,600 additional shares and now holds a total of 22,100 shares of Penn West Petroleum Ltd (USA) which is valued at $34,255.Comerica Bank reduced its stake in PWE by selling 1,690 shares or 6.16% in the most recent quarter. The Hedge Fund company now holds 25,758 shares of PWE which is valued at $39,925.Acadian Asset Management reduced its stake in PWE by selling 4,709 shares or 47.09% in the most recent quarter. The Hedge Fund company now holds 5,291 shares of PWE which is valued at $9,524.

Penn West Petroleum Ltd (USA) opened for trading at $1.64 and hit $1.66 on the upside on Monday, eventually ending the session at $1.62, with a gain of 0.62% or 0.01 points. The heightened volatility saw the trading volume jump to 12,97,466 shares. Company has a market cap of $814 M.

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.

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.

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