Trade Report: Today, Insider Selling: Penn West Petroleum Ltd. (PWE) Insider Sold $1,078,579.00 in Stock

Today, Insider Selling: Penn West Petroleum Ltd. (PWE) Insider Sold $1,078,579.00 in Stock

Penn West Petroleum Ltd. (NYSE:PWE) insider Cheuk Fund Ho sold 595,900 shares of the stock in a transaction on Tuesday, September 20th. The shares were sold at an average price of $1.81, for a total value of $1,078,579.00. Following the transaction, the insider now directly owns 48,780,897 shares in the company, valued at $88,293,423.57. The transaction was disclosed in a filing with the SEC, which is available 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 1.86 on Monday. The stock’s market capitalization is $934.02 million. The stock has a 50 day moving average price of $1.76 and a 200 day moving average price of $1.31. Penn West Petroleum Ltd. has a 1-year low of $0.48 and a 1-year high of $1.97.

A number of institutional investors have recently added to or reduced their stakes in the company. GMT Capital Corp purchased a new position in Penn West Petroleum during the second quarter valued at about $1,752,000. PNC Financial Services Group Inc. raised its position 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 valued at $121,000 after buying an additional 60,525 shares in the last quarter. Clear Harbor Asset Management LLC raised its position in Penn West Petroleum by 327.5% in the second quarter. Clear Harbor Asset Management LLC now owns 420,655 shares of the company’s stock valued at $585,000 after buying an additional 322,255 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new position in Penn West Petroleum during the second quarter valued at about $222,000. Finally, LMR Partners LLP purchased a new position in Penn West Petroleum during the second quarter valued at about $1,015,000. 13.98% of the stock is currently owned by institutional investors and hedge funds.

PWE has been the topic of several research analyst reports. Zacks Investment Research cut Penn West Petroleum from a “hold” rating to a “sell” rating in a report on Wednesday, June 29th. TD Securities raised Penn West Petroleum from a “reduce” rating to a “hold” rating in a report on Thursday, September 15th. Scotiabank reissued a “sector perform” rating and set a $2.00 price target on shares of Penn West Petroleum in a report on Wednesday, August 10th. Royal Bank Of Canada upgraded Penn West Petroleum from an “underperform” rating to a “sector perform” rating and upped their price objective for the stock from $0.90 to $2.00 in a research note on Monday, June 27th. Finally, RBC Capital Markets restated a “sector perform” rating and issued a $2.50 price objective (up from $2.30) on shares of Penn West Petroleum in a research note on Thursday, September 8th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $1.69.

Penn West Petroleum Company Profile

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