Brokerage firm Raymond James Downgrades its rating on Penn West Petroleum Ltd (USA)(NYSE:PWE). The shares have been rated Underperform. Previously, the analysts had a Market Perform rating on the shares. The rating by Raymond James was issued on Jun 6, 2016.
Penn West Petroleum Ltd (USA) (PWE) shares turned negative on Fridays trading session with the shares closing down -0.0415 points or -4.32% at a volume of 16,41,013. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $0.963. The peak price level was also seen at $0.963 while the days lowest was $0.903. Finally the shares closed at $0.9199. The 52-week high of the shares is $2.02 while the 52-week low is $0.45. According to the latest information available, the market cap of the company is $462 M.
Penn West Petroleum Ltd (USA)(PWE) last announced its earnings results on May 16, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $177.87M. Analysts had an estimated revenue of $199.55M. Earnings per share were $-0.15. Analysts had estimated an EPS of $-0.14.
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.