Trading Report: Today, 1,044,900 Shares of Stock are sold by Penn West Petroleum Ltd. (PWE) Insider Cheuk Fund Ho

Today, 1,044,900 Shares of Stock are sold by Penn West Petroleum Ltd. (PWE) Insider Cheuk Fund Ho

Penn West Petroleum Ltd. (NYSE:PWE) insider Cheuk Fund Ho sold 1,044,900 shares of the business’s stock in a transaction dated Friday, October 14th. The shares were sold at an average price of $1.90, for a total value of $1,985,310.00. Following the completion of the sale, the insider now owns 34,290,677 shares in the company, valued at $65,152,286.30. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Cheuk Fund Ho also recently made the following trade(s): On Thursday, October 13th, Cheuk Fund Ho sold 1,020,000 shares of Penn West Petroleum stock. The shares were sold at an average price of $1.83, for a total value of $1,866,600.00. 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 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.

Shares of Penn West Petroleum Ltd. (NYSE:PWE) opened at 1.76 on Tuesday. Penn West Petroleum Ltd. has a 52 week low of $0.48 and a 52 week high of $1.97. The firm has a 50-day moving average price of $1.76 and a 200 day moving average price of $1.32. The stock’s market cap is $883.81 million.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Scoggin Management LP purchased a new position in Penn West Petroleum during the second quarter worth $5,226,000. GMT Capital Corp purchased a new position in Penn West Petroleum during the second quarter worth $1,752,000. Vanguard Group Inc. increased 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 worth $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 worth $1,015,000. Finally, Lorber David A purchased a new position in Penn West Petroleum during the first quarter worth $570,000. 13.97% of the stock is currently owned by institutional investors.

A number of research firms have weighed in on PWE. Royal Bank Of Canada raised Penn West Petroleum from an “underperform” rating to a “sector perform” rating and lifted their target price for the company from $0.90 to $2.00 in a report on Monday, June 27th. Barclays PLC raised Penn West Petroleum from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $1.50 to $2.00 in a report on Friday, July 22nd. Zacks Investment Research raised Penn West Petroleum from a “sell” rating to a “hold” rating in a report on Thursday, August 25th. Scotiabank reaffirmed a “sector perform” rating and set a $2.00 target price on shares of Penn West Petroleum in a report on Wednesday, August 10th. Finally, RBC Capital Markets reaffirmed 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. Three investment 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. Penn West Petroleum currently has a consensus rating of “Hold” and a consensus target price of $1.69.

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