Today, Penn West Petroleum Ltd. (PWE) Insider Sold $2,839,200.00 in Stock

Today, Penn West Petroleum Ltd. (PWE) Insider Sold $2,839,200.00 in Stock

Penn West Petroleum Ltd. (NYSE:PWE) insider Cheuk Fund Ho sold 1,560,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $1.82, for a total transaction of $2,839,200.00. Following the completion of the sale, the insider now owns 48,780,897 shares in the company, valued at approximately $88,781,232.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction of $1,738,282.00.

Penn West Petroleum Ltd. (NYSE:PWE) opened at 1.86 on Monday. The firm’s market cap is $934.02 million. Penn West Petroleum Ltd. has a 1-year low of $0.48 and a 1-year high of $1.97. The company has a 50-day moving average of $1.76 and a 200-day moving average of $1.31.

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

A number of institutional investors have recently added to or reduced their stakes in PWE. 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 worth $585,000 after buying an additional 322,255 shares during the period. LMR Partners LLP purchased a new position in Penn West Petroleum during the second quarter worth approximately $1,015,000. Lorber David A purchased a new position in Penn West Petroleum during the first quarter worth approximately $570,000. Renaissance Technologies LLC raised 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 period. Finally, WealthTrust Axiom LLC raised its position in Penn West Petroleum by 13.8% in the second quarter. WealthTrust Axiom LLC now owns 188,100 shares of the company’s stock worth $261,000 after buying an additional 22,750 shares during the period. Hedge funds and other institutional investors own 13.98% of the company’s stock.

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