Trade Report: Today, Insider Selling: Penn West Petroleum Ltd. (PWE) Insider Sold $1,373,964.80 in Stock

Today, Insider Selling: Penn West Petroleum Ltd. (PWE) Insider Sold $1,373,964.80 in Stock

Penn West Petroleum Ltd. (NYSE:PWE) insider Cheuk Fund Ho sold 746,720 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $1.84, for a total value of $1,373,964.80. Following the transaction, the insider now directly owns 48,780,897 shares in the company, valued at $89,756,850.48. The transaction was disclosed in a 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 stock was 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 stock was 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 stock was 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 stock was 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 stock was 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 stock was 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 stock was 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 stock was sold at an average price of $1.85, for a total value of $1,276,500.00. 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 value of $1,738,282.00. On Thursday, September 29th, Cheuk Fund Ho sold 1,650,000 shares of Penn West Petroleum stock. The stock was sold at an average price of $1.86, for a total value of $3,069,000.00.

Shares of Penn West Petroleum Ltd. (NYSE:PWE) opened at 1.86 on Monday. Penn West Petroleum Ltd. has a 12 month low of $0.48 and a 12 month high of $1.97. The company’s 50 day moving average price is $1.76 and its 200-day moving average price is $1.31. The stock’s market capitalization is $934.02 million.

Several brokerages have recently commented on PWE. Royal Bank Of Canada raised 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 research note on Monday, June 27th. Barclays PLC raised 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 research note on Friday, July 22nd. Zacks Investment Research raised Penn West Petroleum from a “sell” rating to a “hold” rating in a research note on Thursday, August 25th. Scotiabank reissued a “sector perform” rating and issued a $2.00 price objective on shares of Penn West Petroleum in a research note on Wednesday, August 10th. Finally, RBC Capital Markets reissued 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 assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $1.69.

A number of hedge funds have recently bought and sold shares of PWE. Hillsdale Investment Management Inc. purchased a new stake in Penn West Petroleum during the second quarter valued at $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 valued at $121,000 after buying an additional 60,525 shares during the last quarter. 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 valued at $150,000 after buying an additional 22,052 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new stake in Penn West Petroleum during the second quarter valued at $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 valued at $255,000 after buying an additional 135,600 shares during the last quarter. 13.98% of the stock is currently owned by institutional investors and hedge funds.

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