Trading Report: The Penn West Petroleum Ltd. (PWE) Insider Sells $2,177,400.00 in Stock

The Penn West Petroleum Ltd. (PWE) Insider Sells $2,177,400.00 in Stock

Penn West Petroleum Ltd. (NYSE:PWE) insider Cheuk Fund Ho sold 1,140,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 5th. The stock was sold at an average price of $1.91, for a total transaction of $2,177,400.00. Following the transaction, the insider now directly owns 48,780,897 shares of the company’s stock, valued at approximately $93,171,513.27. The sale was disclosed in a 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 stock was sold at an average price of $1.90, for a total transaction of $1,191,870.00. On Monday, October 10th, Cheuk Fund Ho sold 446,800 shares of Penn West Petroleum stock. The stock was 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 stock was 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 stock was sold at an average price of $1.92, for a total transaction of $2,188,800.00. On Tuesday, October 4th, Cheuk Fund Ho sold 690,000 shares of Penn West Petroleum stock. The stock was 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 stock was 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 stock was 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.

Penn West Petroleum Ltd. (NYSE:PWE) traded down 2.65% on Wednesday, hitting $1.84. 3,765,013 shares of the stock were exchanged. The stock’s market cap is $923.98 million. The company’s 50 day moving average is $1.75 and its 200 day moving average is $1.30. Penn West Petroleum Ltd. has a 1-year low of $0.48 and a 1-year high of $1.97.

PWE has been the subject of a number of recent analyst reports. Scotiabank raised shares of Penn West Petroleum from an “underperform” rating to a “sector perform” rating and raised their price target for the company from $0.75 to $2.25 in a report on Wednesday, June 15th. Desjardins reaffirmed a “hold” rating and set a $1.75 price target on shares of Penn West Petroleum in a report on Wednesday, June 15th. Barclays PLC raised shares of Penn West Petroleum from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $1.50 to $2.00 in a report on Friday, July 22nd. Royal Bank Of Canada raised shares of Penn West Petroleum from an “underperform” rating to a “sector perform” rating and raised their price target for the company from $0.90 to $2.00 in a report on Monday, June 27th. Finally, Zacks Investment Research lowered shares of Penn West Petroleum from a “hold” rating to a “sell” rating in a report on Wednesday, June 29th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $1.69.

A number of hedge funds have recently bought and sold shares of the stock. Hillsdale Investment Management Inc. acquired a new stake in Penn West Petroleum during the second quarter worth about $105,000. PNC Financial Services Group Inc. boosted its stake in Penn West Petroleum by 227.8% in the second quarter. PNC Financial Services Group Inc. now owns 87,096 shares of the company’s stock worth $121,000 after buying an additional 60,525 shares during the period. KCG Holdings Inc. boosted its stake in Penn West Petroleum by 25.7% in the second quarter. KCG Holdings Inc. now owns 107,735 shares of the company’s stock worth $150,000 after buying an additional 22,052 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new stake in Penn West Petroleum during the second quarter worth about $222,000. Finally, BNP Paribas Arbitrage SA boosted its stake in Penn West Petroleum by 273.0% in the second quarter. BNP Paribas Arbitrage SA now owns 185,277 shares of the company’s stock worth $255,000 after buying an additional 135,600 shares during the period. Hedge funds and other institutional investors own 13.98% of the company’s stock.

Penn West Petroleum Company Profile

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