Penn West Petroleum Ltd (USA) (PWE) : Scoggin Management Lp added new position in Penn West Petroleum Ltd (USA) during the most recent quarter end. The investment management firm now holds 3,760,000 shares of Penn West Petroleum Ltd (USA) which is valued at $5,376,800 , the company said in a statement filed on Aug 9, 2016 with the SEC.Penn West Petroleum Ltd (USA) makes up approximately 1.68% of Scoggin Management Lp’s portfolio.
Other Hedge Funds, Including , Oppenheimer Co Inc reduced its stake in PWE by selling 200 shares or 1.32% in the most recent quarter. The Hedge Fund company now holds 14,925 shares of PWE which is valued at $21,940. Hallmark Capital Management Inc added PWE to its portfolio by purchasing 180 company shares during the most recent quarter which is valued at $248.World Asset Management Inc boosted its stake in PWE in the latest quarter, The investment management firm added 2,232 additional shares and now holds a total of 31,272 shares of Penn West Petroleum Ltd (USA) which is valued at $42,530.Simplex Trading boosted its stake in PWE in the latest quarter, The investment management firm added 51,220 additional shares and now holds a total of 64,842 shares of Penn West Petroleum Ltd (USA) which is valued at $91,427. Penn West Petroleum Ltd (USA) makes up approx 0.01% of Simplex Trading’s portfolio.
Penn West Petroleum Ltd (USA) opened for trading at $1.7 and hit $1.71 on the upside on Wednesday, eventually ending the session at $1.69, with a gain of 0.60% or 0.01 points. The heightened volatility saw the trading volume jump to 13,16,035 shares. Company has a market cap of $849 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.
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.