The Penn West Petroleum Ltd. (PWE) Insider Sells $1,259,760.00 in Stock

The Penn West Petroleum Ltd. (PWE) Insider Sells $1,259,760.00 in Stock

Penn West Petroleum Ltd. (NYSE:PWE) insider Cheuk Fund Ho sold 696,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $1.81, for a total value of $1,259,760.00. Following the completion of the sale, the insider now owns 48,780,897 shares of the company’s stock, valued at approximately $88,293,423.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Cheuk Fund Ho also recently made the following trade(s): On Tuesday, October 11th, Cheuk Fund Ho sold 627,300 shares of Penn West Petroleum stock. The shares were sold at an average price of $1.90, for a total value of $1,191,870.00. 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 value 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 value 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 value 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 value 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 value 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 value 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 value 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 value 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 value of $2,839,200.00.

Penn West Petroleum Ltd. (NYSE:PWE) traded down 2.65% during trading on Wednesday, reaching $1.84. The company’s stock had a trading volume of 3,765,013 shares. The company’s market capitalization is $923.98 million. Penn West Petroleum Ltd. has a 12-month low of $0.48 and a 12-month high of $1.97. The firm’s 50-day moving average price is $1.75 and its 200 day moving average price is $1.30.

Several analysts have weighed in on the company. Zacks Investment Research upgraded Penn West Petroleum from a “sell” rating to a “hold” rating in a research report on Thursday, August 25th. Scotiabank restated a “sector perform” rating and set a $2.00 target price on shares of Penn West Petroleum in a report on Wednesday, August 10th. TD Securities upgraded Penn West Petroleum from a “reduce” rating to a “hold” rating in a report on Thursday, September 15th. RBC Capital Markets restated a “sector perform” rating and set a $2.50 target price (up previously from $2.30) on shares of Penn West Petroleum in a report on Thursday, September 8th. Finally, Royal Bank Of Canada upgraded Penn West Petroleum from an “underperform” rating to a “sector perform” rating and upped their target price for the company from $0.90 to $2.00 in a report on Monday, June 27th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $1.69.

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Penn West Petroleum by 15.3% in the second quarter. Vanguard Group Inc. now owns 8,369,036 shares of the company’s stock worth $11,633,000 after buying an additional 1,108,448 shares during the period. Scoggin Management LP bought a new position in shares of Penn West Petroleum during the second quarter worth approximately $5,226,000. Legal & General Group Plc boosted its position in shares of Penn West Petroleum by 7.5% in the second quarter. Legal & General Group Plc now owns 2,807,253 shares of the company’s stock worth $3,884,000 after buying an additional 195,746 shares during the period. GMT Capital Corp bought a new position in shares of Penn West Petroleum during the second quarter worth approximately $1,752,000. Finally, Commonwealth Bank of Australia boosted its position in shares of Penn West Petroleum by 11.0% in the second quarter. Commonwealth Bank of Australia now owns 756,220 shares of the company’s stock worth $1,051,000 after buying an additional 74,800 shares during the period. Hedge funds and other institutional investors own 13.98% of the company’s stock.

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