The 1,140,000 Shares of Penn West Petroleum Ltd. (PWE) Stock are sold by Cheuk Fund Ho

The 1,140,000 Shares of Penn West Petroleum Ltd. (PWE) Stock are sold by Cheuk Fund Ho

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 Thursday, October 6th. The shares were sold at an average price of $1.92, for a total value of $2,188,800.00. Following the transaction, the insider now owns 48,780,897 shares of the company’s stock, valued at approximately $93,659,322.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Cheuk Fund Ho also recently made the following trade(s): On Wednesday, October 12th, Cheuk Fund Ho sold 825,500 shares of Penn West Petroleum stock. The shares were sold at an average price of $1.87, for a total value of $1,543,685.00. 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 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.

Shares of Penn West Petroleum Ltd. (NYSE:PWE) opened at 1.88 on Friday. The stock 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 1-year low of $0.48 and a 1-year high of $1.97. The stock’s market capitalization is $944.06 million.

A number of institutional investors have recently bought and sold shares of the stock. Spark Investment Management LLC boosted its position in Penn West Petroleum by 291.5% in the first quarter. Spark Investment Management LLC now owns 536,400 shares of the company’s stock worth $494,000 after buying an additional 399,400 shares during the last quarter. Scotia Capital Inc. boosted its position in Penn West Petroleum by 9.9% in the first quarter. Scotia Capital Inc. now owns 418,630 shares of the company’s stock worth $384,000 after buying an additional 37,589 shares during the last quarter. Renaissance Technologies LLC boosted its position in Penn West Petroleum by 144.1% in the first quarter. Renaissance Technologies LLC now owns 294,103 shares of the company’s stock worth $273,000 after buying an additional 173,605 shares during the last quarter. Lorber David A acquired a new position in Penn West Petroleum during the first quarter worth about $570,000. Finally, BNP Paribas Arbitrage SA boosted its position 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 last quarter. Institutional investors own 13.98% of the company’s stock.

A number of research firms have issued reports on PWE. Barclays PLC upgraded Penn West Petroleum from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $1.50 to $2.00 in a report on Friday, July 22nd. RBC Capital Markets reiterated a “sector perform” rating and issued a $2.50 price objective (up previously from $2.30) on shares of Penn West Petroleum in a report on Thursday, September 8th. Zacks Investment Research upgraded Penn West Petroleum from a “sell” rating to a “hold” rating in a report on Thursday, August 25th. Royal Bank Of Canada upgraded Penn West Petroleum from an “underperform” rating to a “sector perform” rating and increased their price objective for the stock from $0.90 to $2.00 in a report on Monday, June 27th. Finally, TD Securities upgraded Penn West Petroleum from a “reduce” rating to a “hold” rating in a report on Thursday, September 15th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $1.69.

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