The Penn West Petroleum Ltd. (PWE) Insider Sells $1,191,870.00 in Stock

The Penn West Petroleum Ltd. (PWE) Insider Sells $1,191,870.00 in Stock

Penn West Petroleum Ltd. (NYSE:PWE) insider Cheuk Fund Ho sold 627,300 shares of the business’s stock in a transaction dated Tuesday, October 11th. The shares were sold at an average price of $1.90, for a total transaction of $1,191,870.00. Following the completion of the sale, the insider now owns 48,780,897 shares in the company, valued at $92,683,704.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Cheuk Fund Ho also recently made the following trade(s): On Monday, October 10th, Cheuk Fund Ho sold 446,800 shares of Penn West Petroleum stock. The shares were sold at an average price of $1.91, for a total transaction of $853,388.00. On Friday, October 7th, Cheuk Fund Ho sold 771,100 shares of Penn West Petroleum stock. The shares were sold at an average price of $1.89, for a total transaction of $1,457,379.00. On Thursday, October 6th, Cheuk Fund Ho sold 1,140,000 shares of Penn West Petroleum stock. The shares were sold at an average price of $1.92, for a total transaction of $2,188,800.00. On Wednesday, October 5th, Cheuk Fund Ho sold 1,140,000 shares of Penn West Petroleum stock. The shares were sold at an average price of $1.91, for a total transaction of $2,177,400.00. On Tuesday, October 4th, Cheuk Fund Ho sold 690,000 shares of Penn West Petroleum stock. The shares were sold at an average price of $1.85, for a total transaction of $1,276,500.00. On Monday, October 3rd, Cheuk Fund Ho sold 746,720 shares of Penn West Petroleum stock. The shares were sold at an average price of $1.84, for a total transaction of $1,373,964.80. On Friday, September 30th, Cheuk Fund Ho sold 955,100 shares of Penn West Petroleum stock. The shares were sold at an average price of $1.82, for a total transaction of $1,738,282.00. On Thursday, September 29th, Cheuk Fund Ho sold 1,650,000 shares of Penn West Petroleum stock. The shares were sold at an average price of $1.86, for a total transaction of $3,069,000.00. On Wednesday, September 28th, Cheuk Fund Ho sold 1,560,000 shares of Penn West Petroleum stock. The shares were sold at an average price of $1.82, for a total transaction of $2,839,200.00. On Monday, September 26th, Cheuk Fund Ho sold 131,500 shares of Penn West Petroleum stock. The shares were sold at an average price of $1.80, for a total transaction of $236,700.00.

Shares of Penn West Petroleum Ltd. (NYSE:PWE) traded down 2.65% during trading on Wednesday, reaching $1.84. The company had a trading volume of 3,765,013 shares. The firm has a 50-day moving average price of $1.75 and a 200-day moving average price of $1.30. Penn West Petroleum Ltd. has a 52-week low of $0.48 and a 52-week high of $1.97. The company’s market capitalization is $923.98 million.

A number of analysts have issued reports on the stock. RBC Capital Markets reiterated a “sector perform” rating and set a $2.50 price target (up from $2.30) on shares of Penn West Petroleum in a research note on Thursday, September 8th. TD Securities upgraded shares of Penn West Petroleum from a “reduce” rating to a “hold” rating in a research note on Thursday, September 15th. Zacks Investment Research upgraded shares of Penn West Petroleum from a “sell” rating to a “hold” rating in a research note on Thursday, August 25th. Scotiabank reiterated a “sector perform” rating and set a $2.00 price target on shares of Penn West Petroleum in a research note on Wednesday, August 10th. Finally, Barclays PLC upgraded shares of Penn West Petroleum from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $1.50 to $2.00 in a research note on Friday, July 22nd. Three analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. Penn West Petroleum presently has a consensus rating of “Hold” and a consensus price target of $1.69.

Several institutional investors have recently added to or reduced their stakes in the stock. Scoggin Management LP purchased a new position in Penn West Petroleum during the second quarter valued at $5,226,000. GMT Capital Corp purchased a new position in Penn West Petroleum during the second quarter valued at $1,752,000. Vanguard Group Inc. raised its position in Penn West Petroleum by 15.3% in the second quarter. Vanguard Group Inc. now owns 8,369,036 shares of the company’s stock valued at $11,633,000 after buying an additional 1,108,448 shares in the last quarter. LMR Partners LLP purchased a new position in Penn West Petroleum during the second quarter valued at $1,015,000. Finally, Lorber David A purchased a new position in Penn West Petroleum during the first quarter valued at $570,000. 13.98% of the stock is currently owned by institutional investors and hedge funds.

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