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 stock was sold at an average price of $1.82, for a total transaction of $2,839,200.00. Following the sale, the insider now directly owns 48,780,897 shares of the company’s stock, valued at approximately $88,781,232.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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 stock was 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 Monday, September 26th, Cheuk Fund Ho sold 131,500 shares of Penn West Petroleum stock. The stock was 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 midday trading on Wednesday, hitting $1.84. 3,765,013 shares of the company were exchanged. Penn West Petroleum Ltd. has a one year low of $0.48 and a one year high of $1.97. The firm’s market cap is $923.98 million. The company’s 50 day moving average price is $1.75 and its 200 day moving average price is $1.30.

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

Several brokerages recently issued reports on PWE. TD Securities upgraded Penn West Petroleum from a “reduce” rating to a “hold” rating in a research note on Thursday, September 15th. RBC Capital Markets reiterated a “sector perform” rating and issued a $2.50 target price (up from $2.30) on shares of Penn West Petroleum in a research note on Thursday, September 8th. Desjardins reiterated a “hold” rating and issued a $1.75 target price on shares of Penn West Petroleum in a research note on Wednesday, June 15th. Scotiabank upgraded Penn West Petroleum from an “underperform” rating to a “sector perform” rating and raised their target price for the company from $0.75 to $2.25 in a research note on Wednesday, June 15th. Finally, Zacks Investment Research cut Penn West Petroleum from a “hold” rating to a “sell” rating in a research note on Wednesday, June 29th. 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 stock. The company currently has an average rating of “Hold” and an average price target of $1.69.

Several hedge funds have recently added to or reduced their stakes in PWE. GMT Capital Corp purchased a new stake in Penn West Petroleum during the second quarter worth about $1,752,000. PNC Financial Services Group Inc. boosted 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 worth $121,000 after buying an additional 60,525 shares in the last quarter. Clear Harbor Asset Management LLC boosted its stake 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 in 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 worth about $222,000. Finally, LMR Partners LLP purchased a new stake in Penn West Petroleum during the second quarter worth about $1,015,000. Institutional investors and hedge funds own 13.98% of the company’s stock.

Penn West Petroleum Company Profile

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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