TD Securities upgraded shares of Penn West Petroleum Ltd (TSE:PWT) (NYSE:PWE) from a hold rating to a buy rating in a research note released on Thursday morning. TD Securities currently has C$3.00 price objective on the stock, up from their previous price objective of C$2.75.
A number of other research analysts have also recently commented on the stock. Desjardins upped their price target on shares of Penn West Petroleum from C$2.50 to C$2.75 in a report on Wednesday, December 21st. CIBC reiterated a neutral rating and set a C$2.60 target price on shares of Penn West Petroleum in a report on Thursday, December 15th. Barclays PLC increased their target price 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 target price 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. Finally, Scotiabank increased their target price 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 investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of C$2.43.
Shares of Penn West Petroleum (TSE:PWT) opened at 2.11 on Thursday. The company’s market cap is $1.06 billion. Penn West Petroleum has a one year low of $0.78 and a one year high of $2.72. The firm has a 50-day moving average of $2.18 and a 200-day moving average of $2.29.
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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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