Penn West Petroleum Ltd (TSE:PWT) had its target price hoisted by equities researchers at Barclays PLC from C$2.00 to C$2.50 in a research report issued to clients and investors on Tuesday, StockTargetPrices.com reports. Barclays PLC’s price target suggests a potential downside of 0.79% from the stock’s current price.
Several other equities analysts also recently commented on the company. FirstEnergy Capital raised Penn West Petroleum from an “underperform” rating to a “market perform” rating and upped their target price for the company from C$1.50 to C$1.75 in a research report on Saturday, August 6th. Scotiabank reaffirmed a “sector perform” rating and issued a C$2.00 target price on shares of Penn West Petroleum in a research report on Friday, August 5th. Desjardins reaffirmed a “hold” rating and issued a C$1.75 target price on shares of Penn West Petroleum in a research report on Tuesday, June 14th. RBC Capital Markets upped their target price on Penn West Petroleum from C$2.20 to C$2.30 and gave the company a “sector perform” rating in a research report on Saturday, August 6th. Finally, Royal Bank Of Canada upped their target price on Penn West Petroleum from C$0.90 to C$2.00 and gave the company a “sector perform” rating in a research report on Monday, June 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of C$2.02.
Shares of Penn West Petroleum (TSE:PWT) traded up 0.40% during trading on Tuesday, reaching $2.53. The company’s stock had a trading volume of 760,581 shares. Penn West Petroleum has a 52-week low of $0.70 and a 52-week high of $2.60. The company’s market cap is $1.27 billion. The firm’s 50-day moving average is $2.26 and its 200 day moving average is $1.66.
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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