Penn West Petroleum Ltd (PWT) Upgraded at TD Securities
TD Securities upgraded shares of Penn West Petroleum Ltd (TSE:PWT) from a reduce rating to a hold rating in a report issued on Friday. They currently have C$2.25 price objective on the stock, up from their previous price objective of C$0.80.
Other equities analysts have also recently issued research reports about the company. Barclays PLC raised their target price on Penn West Petroleum from C$1.00 to C$1.50 in a report on Monday, June 13th. FirstEnergy Capital upgraded Penn West Petroleum from an underperform rating to a market perform rating and raised their target price for the stock from C$1.50 to C$1.75 in a report on Saturday, August 6th. Scotiabank restated a sector perform rating and set a C$2.00 target price on shares of Penn West Petroleum in a report on Friday, August 5th. Desjardins restated a hold rating and set a C$1.75 target price on shares of Penn West Petroleum in a report on Tuesday, June 14th. Finally, RBC Capital Markets raised their price target on Penn West Petroleum from C$2.20 to C$2.30 and gave the stock a sector perform rating in a research report on Saturday, August 6th. Two equities 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. Penn West Petroleum has a consensus rating of Hold and an average target price of C$1.97.
Shares of Penn West Petroleum (TSE:PWT) opened at 2.33 on Friday. The company has a 50 day moving average price of $2.09 and a 200 day moving average price of $1.56. The company’s market cap is $1.17 billion. Penn West Petroleum has a 52 week low of $0.60 and a 52 week high of $2.46.
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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