Scotiabank Reaffirms “Sector Perform” Rating for Penn West Petroleum Ltd (PWT)
Scotiabank reissued their sector perform rating on shares of Penn West Petroleum Ltd (TSE:PWT) (NYSE:PWE) in a research note released on Thursday morning. They currently have a C$2.75 price objective on the stock.
PWT has been the topic of several other research reports. Desjardins increased their price target on shares of Penn West Petroleum from C$2.50 to C$2.75 in a report on Wednesday, December 21st. Barclays PLC increased their price target on shares of Penn West Petroleum from C$2.50 to C$3.00 and gave the stock an equal weight rating in a report on Monday, January 9th. Raymond James Financial, Inc. increased their price target on shares of Penn West Petroleum from C$2.75 to C$3.00 and gave the stock an outperform rating in a report on Friday, January 6th. CIBC reiterated a neutral rating and issued a C$2.60 price target on shares of Penn West Petroleum in a report on Thursday, December 15th. Finally, Royal Bank of Canada increased their price target on shares of Penn West Petroleum from C$2.50 to C$2.75 and gave the stock a sector perform rating in a report on Friday, January 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. Penn West Petroleum currently has a consensus rating of Hold and a consensus target price of C$2.43.
Penn West Petroleum (TSE:PWT) opened at 2.11 on Thursday. Penn West Petroleum has a one year low of $0.78 and a one year high of $2.72. The firm’s 50-day moving average is $2.18 and its 200 day moving average is $2.29. The stock’s market cap is $1.06 billion.
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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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