TD Securities upgraded shares of Penn West Petroleum Ltd. (NYSE:PWE) from a reduce rating to a hold rating in a research note released on Thursday morning, The Fly reports.

Analyst Recommendations for Penn West Petroleum (NYSE:PWE)

A number of other brokerages also recently issued reports on PWE. 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 report on Wednesday, June 15th. Desjardins reaffirmed a hold rating and issued a $1.75 price objective on shares of Penn West Petroleum in a research report on Wednesday, June 15th. Barclays PLC raised shares of Penn West Petroleum from an underweight rating to an equal weight rating and lifted their price objective for the stock from $1.50 to $2.00 in a research report on Friday, July 22nd. Raymond James Financial Inc. raised shares of Penn West Petroleum from an underperform rating to an outperform rating in a research report on Monday, June 13th. Finally, JPMorgan Chase & Co. downgraded shares of Penn West Petroleum from a neutral rating to an underweight rating in a research report on Monday, June 6th. 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’s stock. The stock presently has an average rating of Hold and a consensus target price of $1.54.

Penn West Petroleum (NYSE:PWE) opened at 1.84 on Thursday. Penn West Petroleum has a 52-week low of $0.45 and a 52-week high of $1.87. The firm has a 50-day moving average of $1.59 and a 200 day moving average of $1.20. The company’s market capitalization is $923.98 million.

Several hedge funds have recently added to or reduced their stakes in the stock. Hillsdale Investment Management Inc. acquired a new stake in Penn West Petroleum during the second quarter valued at approximately $105,000. PNC Financial Services Group Inc. increased its stake in 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 period. KCG Holdings Inc. increased its stake in 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 period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new stake in Penn West Petroleum during the second quarter valued at approximately $222,000. Finally, BNP Paribas Arbitrage SA increased its stake in 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 period. 13.98% of the stock is currently owned by institutional investors and hedge funds.

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

The Fly

Receive News & Ratings for Penn West Petroleum Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Penn West Petroleum Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.