Penn West Petroleum Ltd. (NYSE:PWE) insider Cheuk Fund Ho sold 720,000 shares of the stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $1.85, for a total value of $1,332,000.00. Following the completion of the sale, the insider now directly owns 48,780,897 shares of the company’s stock, valued at approximately $90,244,659.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Cheuk Fund Ho also recently made the following trade(s):

  • 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 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 Monday, October 3rd, Cheuk Fund Ho sold 746,720 shares of Penn West Petroleum stock. The stock was 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 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.
  • On Wednesday, September 28th, Cheuk Fund Ho sold 1,560,000 shares of Penn West Petroleum stock. The stock was sold at an average price of $1.82, for a total value of $2,839,200.00.

Shares of Penn West Petroleum Ltd. (NYSE:PWE) traded down 2.65% during mid-day trading on Wednesday, hitting $1.84. The stock had a trading volume of 3,765,013 shares. The company’s 50 day moving average price is $1.75 and its 200 day moving average price is $1.30. Penn West Petroleum Ltd. has a 12-month low of $0.48 and a 12-month high of $1.97. The stock’s market cap is $923.98 million.

Insider Buying and Selling by Quarter for Penn West Petroleum (NYSE:PWE)

Several research analysts recently weighed in on the company. RBC Capital Markets reiterated a “sector perform” rating and issued a $2.50 price objective (up from $2.30) on shares of Penn West Petroleum in a research report on Thursday, September 8th. TD Securities upgraded Penn West Petroleum from a “reduce” rating to a “hold” rating in a research report on Thursday, September 15th. Zacks Investment Research upgraded Penn West Petroleum from a “sell” rating to a “hold” rating in a research report on Thursday, August 25th. Scotiabank restated a “sector perform” rating and set a $2.00 price target on shares of Penn West Petroleum in a research report on Wednesday, August 10th. Finally, Barclays PLC upgraded Penn West Petroleum from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $1.50 to $2.00 in a research report on Friday, July 22nd. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. Penn West Petroleum has an average rating of “Hold” and a consensus target price of $1.69.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Spark Investment Management LLC increased its position in shares of Penn West Petroleum by 291.5% in the first quarter. Spark Investment Management LLC now owns 536,400 shares of the company’s stock valued at $494,000 after buying an additional 399,400 shares during the period. Scotia Capital Inc. increased its position in shares of Penn West Petroleum by 9.9% in the first quarter. Scotia Capital Inc. now owns 418,630 shares of the company’s stock valued at $384,000 after buying an additional 37,589 shares during the period. Renaissance Technologies LLC increased its position in shares of Penn West Petroleum by 144.1% in the first quarter. Renaissance Technologies LLC now owns 294,103 shares of the company’s stock valued at $273,000 after buying an additional 173,605 shares during the period. Lorber David A acquired a new position in shares of Penn West Petroleum during the first quarter valued at $570,000. Finally, BNP Paribas Arbitrage SA increased its position in shares of 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 period. Hedge funds and other institutional investors own 13.98% of the company’s stock.

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.

5 Day Chart for NYSE:PWE

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