Penn West Petroleum Ltd. (NYSE:PWE) insider Cheuk Fund Ho sold 627,300 shares of the business’s stock in a transaction that occurred on Tuesday, October 11th. The shares were sold at an average price of $1.90, for a total transaction of $1,191,870.00. Following the transaction, the insider now directly owns 48,780,897 shares of the company’s stock, valued at $92,683,704.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

  • 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.
  • On Thursday, September 29th, Cheuk Fund Ho sold 1,650,000 shares of Penn West Petroleum stock. The shares were sold at an average price of $1.86, for a total transaction of $3,069,000.00.
  • On Wednesday, September 28th, Cheuk Fund Ho sold 1,560,000 shares of Penn West Petroleum stock. The shares were sold at an average price of $1.82, for a total transaction of $2,839,200.00.
  • On Monday, September 26th, Cheuk Fund Ho sold 131,500 shares of Penn West Petroleum stock. The shares were sold at an average price of $1.80, for a total transaction of $236,700.00.

Shares of Penn West Petroleum Ltd. (NYSE:PWE) traded down 2.65% during trading on Wednesday, hitting $1.84. 3,765,013 shares of the company were exchanged. The firm’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 firm’s market capitalization is $923.98 million.

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

A number of brokerages have commented on PWE. Barclays PLC raised shares of Penn West Petroleum from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $1.50 to $2.00 in a report on Friday, July 22nd. Scotiabank raised shares of Penn West Petroleum from an “underperform” rating to a “sector perform” rating and upped their target price for the company from $0.75 to $2.25 in a report on Wednesday, June 15th. RBC Capital Markets reaffirmed a “sector perform” rating and set a $2.50 target price (up from $2.30) on shares of Penn West Petroleum in a report on Thursday, September 8th. Zacks Investment Research upgraded shares of Penn West Petroleum from a “sell” rating to a “hold” rating in a research report on Thursday, August 25th. Finally, Desjardins reiterated a “hold” rating and issued a $1.75 price target on shares of Penn West Petroleum in a research report on Wednesday, June 15th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. Penn West Petroleum currently has an average rating of “Hold” and an average price target of $1.69.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Hillsdale Investment Management Inc. purchased a new position in shares of Penn West Petroleum during the second quarter valued at $105,000. PNC Financial Services Group Inc. raised its stake in shares of 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 period. KCG Holdings Inc. raised its stake in shares of 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 period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new stake in shares of Penn West Petroleum during the second quarter valued at about $222,000. Finally, BNP Paribas Arbitrage SA raised its stake 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. 13.98% of the stock is currently owned by hedge funds and other institutional investors.

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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