Scotiabank Reaffirms “Sector Perform” Rating for Penn West Petroleum Ltd (PWT)

Scotiabank reiterated their sector perform rating on shares of Penn West Petroleum Ltd (TSE:PWT) (NYSE:PWE) in a research report report published on Thursday morning. They currently have a C$2.75 target price on the stock.

PWT has been the subject of a number of other reports. Desjardins raised their price objective on shares of Penn West Petroleum from C$2.50 to C$2.75 in a research note on Wednesday, December 21st. Royal Bank of Canada raised their price objective on shares of Penn West Petroleum from C$2.50 to C$2.75 and gave the company a sector perform rating in a research note on Friday, January 6th. CIBC restated a neutral rating and set a C$2.60 price objective on shares of Penn West Petroleum in a research note on Thursday, December 15th. TD Securities restated a hold rating and set a C$2.75 price objective on shares of Penn West Petroleum in a research note on Friday, January 6th. Finally, Barclays PLC raised their price objective on shares of Penn West Petroleum from C$2.50 to C$3.00 and gave the company an equal weight rating in a research note on Monday, January 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of Hold and an average target price of C$2.43.

Penn West Petroleum (TSE:PWT) opened at 2.11 on Thursday. The firm has a 50-day moving average of $2.18 and a 200-day moving average of $2.29. The stock’s market capitalization is $1.06 billion. Penn West Petroleum has a 1-year low of $0.78 and a 1-year high of $2.72.

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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.

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