Penn West Petroleum Ltd. (NYSE:PWE) insider Cheuk Fund Ho sold 696,000 shares of Penn West Petroleum stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $1.81, for a total value of $1,259,760.00. Following the sale, the insider now directly owns 48,780,897 shares of the company’s stock, valued at $88,293,423.57. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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 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 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 value 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 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.

Penn West Petroleum Ltd. (NYSE:PWE) opened at 1.84 on Thursday. The stock has a 50 day moving average price of $1.75 and a 200 day moving average price of $1.30. The company’s market capitalization is $923.98 million. 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 subject of a number of research analyst reports. Scotiabank raised Penn West Petroleum from an “underperform” rating to a “sector perform” rating and lifted their target price for the company from $0.75 to $2.25 in a research report on Wednesday, June 15th. Desjardins reaffirmed a “hold” rating and set a $1.75 target price on shares of Penn West Petroleum in a research report on Wednesday, June 15th. Barclays PLC raised Penn West Petroleum from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $1.50 to $2.00 in a research report on Friday, July 22nd. Royal Bank Of Canada raised Penn West Petroleum from an “underperform” rating to a “sector perform” rating and lifted their target price for the company from $0.90 to $2.00 in a research report on Monday, June 27th. Finally, Zacks Investment Research lowered Penn West Petroleum from a “hold” rating to a “sell” rating in a research report on Wednesday, June 29th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $1.69.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hillsdale Investment Management Inc. purchased a new position in Penn West Petroleum during the second quarter valued at approximately $105,000. PNC Financial Services Group Inc. boosted 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 last quarter. KCG Holdings Inc. boosted 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 last quarter. 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 boosted 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 last quarter. Institutional investors and hedge funds 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.

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