Penn West Petroleum Ltd (TSE:PWT) had its target price increased by equities researchers at Barclays PLC from C$2.00 to C$2.50 in a research report issued to clients and investors on Tuesday. Barclays PLC’s price objective indicates a potential downside of 0.79% from the stock’s current price.

Other analysts also recently issued research reports about the company. FirstEnergy Capital upgraded Penn West Petroleum from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from C$1.50 to C$1.75 in a research report on Saturday, August 6th. Scotiabank restated a “sector perform” rating and set a C$2.00 target price on shares of Penn West Petroleum in a research report on Friday, August 5th. Desjardins restated a “hold” rating and set a C$1.75 target price on shares of Penn West Petroleum in a research report on Tuesday, June 14th. RBC Capital Markets raised their target price on Penn West Petroleum from C$2.20 to C$2.30 and gave the stock a “sector perform” rating in a research report on Saturday, August 6th. Finally, Royal Bank Of Canada raised their target price on Penn West Petroleum from C$0.90 to C$2.00 and gave the stock a “sector perform” rating in a research report on Monday, June 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. Penn West Petroleum presently has an average rating of “Hold” and an average target price of C$2.02.

Analyst Recommendations for Penn West Petroleum (TSE:PWT)

Shares of Penn West Petroleum (TSE:PWT) traded up 0.40% on Tuesday, reaching $2.53. The company had a trading volume of 760,581 shares. The company has a 50-day moving average price of $2.26 and a 200-day moving average price of $1.66. The firm’s market cap is $1.27 billion. Penn West Petroleum has a one year low of $0.70 and a one year high of $2.60.

About Penn West Petroleum

Penn West Petroleum Ltd. (Penn West) is an exploration and production company. The Company operates in the segment of exploring for, developing and holding interests in oil and natural gas properties, and related production infrastructure in the Western Canada Sedimentary Basin directly and through investments in securities of subsidiaries holding such interests.

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