Penn West Petroleum Ltd (PWE) : Traders are getting increasingly bearish on Penn West Petroleum Ltd (PWE), as can be seen in the addition of short positions from 9,266,385 on Jul 29, 2016, to 9,842,853 on August 15, 2016. The net change in shorts is 576,468 shares, an increase of 6.2%. 6 days remain before the expiry. The 2% of outstanding short positions on the stock compared to its float, shows that traders expect the stock to fall from the current levels. The daily volume of the stock is 1,620,248. The short interest information was released on Wednesday Aug 24th after the market close.
Penn West Petroleum Ltd (NYSE:PWE): The stock opened at $1.66 on Wednesday but the bulls could not build on the opening and the stock topped out at $1.69 for the day. The stock traded down to $1.59 during the day, due to lack of any buying support eventually closed down at $1.61 with a loss of -3.01% for the day. The stock had closed at $1.66 on the previous day. The total traded volume was 1,810,052 shares.
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.