Penn West Petroleum Ltd. (NYSE:PWE) was upgraded by research analysts at TD Securities from a “reduce” rating to a “hold” rating in a research note issued on Thursday, The Fly reports.

Other research analysts have also issued reports about the stock. Raymond James Financial Inc. raised shares of Penn West Petroleum from an “underperform” rating to an “outperform” rating in a research note on Monday, June 13th. Scotiabank raised shares of Penn West Petroleum from an “underperform” rating to a “sector perform” rating and lifted their price objective for the stock from $0.75 to $2.25 in a research note on Wednesday, June 15th. Barclays PLC raised shares of Penn West Petroleum from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $1.50 to $2.00 in a research note on Friday, July 22nd. RBC Capital Markets reissued a “sector perform” rating and set a $2.50 target price (up from $2.30) on shares of Penn West Petroleum in a research note on Thursday, September 8th. Finally, 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. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $1.54.

Penn West Petroleum (NYSE:PWE) opened at 1.75 on Thursday. The company has a 50 day moving average of $1.54 and a 200 day moving average of $1.18. The company’s market capitalization is $878.78 million. Penn West Petroleum has a 52 week low of $0.45 and a 52 week high of $1.79.

Hedge funds have recently added to or reduced their stakes in the stock. Hillsdale Investment Management Inc. purchased a new stake in Penn West Petroleum during the second quarter valued at $105,000. PNC Financial Services Group Inc. increased its position 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 worth $121,000 after buying an additional 60,525 shares in the last quarter. KCG Holdings Inc. increased its position 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 worth $150,000 after buying an additional 22,052 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 position in shares of Penn West Petroleum during the second quarter worth approximately $222,000. Finally, BNP Paribas Arbitrage SA increased its position 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 worth $255,000 after buying an additional 135,600 shares in the last quarter. Hedge funds and other institutional investors 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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