Penn West Petroleum Ltd. (NYSE:PWE) insider Cheuk Fund Ho sold 690,000 shares of the stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of $1.85, for a total value of $1,276,500.00. Following the sale, the insider now directly owns 48,780,897 shares in the company, valued at $90,244,659.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 shares were 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 shares were 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 shares were 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 shares were sold at an average price of $1.91, for a total value of $2,177,400.00.
  • 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 value 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 value 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 value 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 value 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 value of $236,700.00.

Shares of Penn West Petroleum Ltd. (NYSE:PWE) traded down 2.65% during mid-day trading on Wednesday, reaching $1.84. The company had a trading volume of 3,765,013 shares. The company’s market capitalization is $923.98 million. The stock has a 50 day moving average of $1.75 and a 200-day moving average of $1.30. Penn West Petroleum Ltd. has a 52 week low of $0.48 and a 52 week high of $1.97.

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

PWE has been the topic of a number of recent research reports. Scotiabank raised Penn West Petroleum from an “underperform” rating to a “sector perform” rating and increased their target price for the company from $0.75 to $2.25 in a report on Wednesday, June 15th. Desjardins reissued a “hold” rating and issued a $1.75 target price on shares of Penn West Petroleum in a report on Wednesday, June 15th. Barclays PLC raised Penn West Petroleum from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $1.50 to $2.00 in a report on Friday, July 22nd. Royal Bank Of Canada raised Penn West Petroleum from an “underperform” rating to a “sector perform” rating and increased their target price for the company from $0.90 to $2.00 in a report on Monday, June 27th. Finally, Zacks Investment Research downgraded Penn West Petroleum from a “hold” rating to a “sell” rating in a report on Wednesday, June 29th. 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 company’s stock. Penn West Petroleum currently has an average rating of “Hold” and a consensus target price of $1.69.

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Hillsdale Investment Management Inc. acquired a new position in shares of Penn West Petroleum during the second quarter valued at $105,000. PNC Financial Services Group Inc. increased 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. increased 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 increased 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. 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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