Penn West Petroleum Ltd. (NYSE:PWE) insider Cheuk Fund Ho sold 1,044,900 shares of the stock in a transaction on Friday, October 14th. The stock was sold at an average price of $1.90, for a total transaction of $1,985,310.00. Following the sale, the insider now owns 34,290,677 shares of the company’s stock, valued at $65,152,286.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

  • On Thursday, October 13th, Cheuk Fund Ho sold 1,020,000 shares of Penn West Petroleum stock. The stock was sold at an average price of $1.83, for a total transaction of $1,866,600.00.
  • On Wednesday, October 12th, Cheuk Fund Ho sold 825,500 shares of Penn West Petroleum stock. The stock was sold at an average price of $1.87, for a total transaction of $1,543,685.00.
  • 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction 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 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.

Penn West Petroleum Ltd. (NYSE:PWE) traded down 5.38% during mid-day trading on Monday, reaching $1.76. 3,550,497 shares of the company were exchanged. The company’s market capitalization is $883.81 million. The stock has a 50-day moving average price of $1.76 and a 200 day moving average price of $1.31. Penn West Petroleum Ltd. has a one year low of $0.48 and a one year high of $1.97.

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

Several hedge funds have recently made changes to their positions in the stock. Clear Harbor Asset Management LLC boosted its stake in shares of 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 during the period. LMR Partners LLP acquired a new stake in shares of Penn West Petroleum during the second quarter worth approximately $1,015,000. Lorber David A acquired a new stake in shares of Penn West Petroleum during the first quarter worth approximately $570,000. Renaissance Technologies LLC boosted its stake 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 worth $273,000 after buying an additional 173,605 shares during the period. Finally, WealthTrust Axiom LLC boosted its stake in shares of Penn West Petroleum by 13.8% in the second quarter. WealthTrust Axiom LLC now owns 188,100 shares of the company’s stock worth $261,000 after buying an additional 22,750 shares during the period. Hedge funds and other institutional investors own 13.97% of the company’s stock.

PWE has been the topic of a number of recent research reports. Barclays PLC raised shares of Penn West Petroleum from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $1.50 to $2.00 in a research note on Friday, July 22nd. Zacks Investment Research raised shares of Penn West Petroleum from a “sell” rating to a “hold” rating in a research note on Thursday, August 25th. TD Securities upgraded shares of Penn West Petroleum from a “reduce” rating to a “hold” rating in a report on Thursday, September 15th. Royal Bank Of Canada upgraded shares of 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, RBC Capital Markets reiterated a “sector perform” rating and issued a $2.50 target price (up previously from $2.30) on shares of Penn West Petroleum in a report on Thursday, September 8th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $1.69.

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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