Penn West Petroleum Ltd (NYSE:OBE) Downgraded to Sell at Zacks Investment Research
Penn West Petroleum Ltd (NYSE:OBE) (TSE:PWT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday.
According to Zacks, “Obsidian Energy Ltd. is a conventional oil and natural gas producer and development company. Obsidian Energy Ltd, formerly known as Penn West Petroleum Ltd, is based in Calgary, Canada. “
Other equities research analysts have also issued research reports about the company. Canaccord Genuity initiated coverage on Penn West Petroleum in a research note on Monday, June 5th. They set a “hold” rating for the company. ValuEngine upgraded Penn West Petroleum from a “sell” rating to a “hold” rating in a research note on Tuesday, May 16th. Raymond James Financial, Inc. lowered Penn West Petroleum from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 12th. Finally, AltaCorp Capital lowered Penn West Petroleum from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, April 11th. Two 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 stock has an average rating of “Hold” and a consensus target price of $2.46.
Penn West Petroleum (NYSE:OBE) opened at 1.10 on Wednesday. Penn West Petroleum has a one year low of $1.06 and a one year high of $2.05. The company has a 50-day moving average price of $1.40 and a 200-day moving average price of $1.61. The firm’s market capitalization is $554.65 million.
Penn West Petroleum Company Profile
Obsidian Energy Ltd, formerly Penn West Petroleum Ltd, is a Canada-based conventional oil and natural gas producer and development and production company. The Company operates a portfolio of opportunities with an oil position in the Cardium, Viking and Peace River areas of Alberta. The Alberta Viking area offers a mix of light-oil and gas with high-netback shorter cycle wells to complement longer cycle activities in the Cardium.
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