Only yesterday Penn West Petroleum (TSE:PWT) traded 6.32% higher at $2.69. The company’s 50-day moving average is $2.34 and its 200-day moving average is $2.14. With the last closing price up 25.41% relative to the two hundred day average, compared with the S&P 500 Index which has decreased -0.04% over the same period. Trade Volume was up over the average, with 2,115,482 shares of PWT changing hands over the typical 1,436,410
Penn West Petroleum (TSE:PWT) had its stock price target increased to $2.75 by RBC Capital Markets in a report issued 1/06/2017. The updated target price indicates a possible upside of 0.02% from the company's previous stock price.
On 12/21/2016, Desjardins Securities released a statement for Penn West Petroleum (TSE:PWT) bumped up the target price from $2.50 to $2.75 that indicated a possible upside of 0.16%.
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Penn West Petroleum has a 52 week low of $0.70 and a 52 week high of $2.72 The company’s market cap is currently $0.
Also covering Penn West Petroleum's target, a total of 13 equity analysts have released a ratings update on PWT. The one year target is $1.94 with zero equity analysts rating the company a strong buy, four firms rating the stock a buy, 6 firms rating the stock a hold, three brokerages rating the company a underperform, and lastly zero brokerages rating the stock a sell.
Brief Synopsis On Penn West Petroleum (TSE:PWT)
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. Penn West owns the petroleum and natural gas assets or over 100% of the equity, directly or indirectly, of the entities that carry on the remainder of the oil and natural gas business of Penn West, except for an unincorporated joint arrangement (the Peace River Oil Partnership). Penn West's subsidiaries hold approximately 55% interest in the Peace River Oil Partnership. Penn West operates under the trade names of Penn West and Penn West Exploration. Based in Calgary, Alberta, Penn West operates a portfolio of opportunities with a position in light oil in Canada on a land base encompassing approximately four million acres.
The post A statement released earlier today by RBC Capital Markets about Penn West Petroleum (TSE:PWT) ups the target price to $2.75 appeared first on Octafinance.