John Brydson Purchases 250,000 Shares of Penn West Petroleum Ltd (PWT) Stock

Penn West Petroleum Ltd (TSE:PWT) (NYSE:PWE) Director John Brydson purchased 250,000 shares of the stock in a transaction dated Thursday, April 13th. The shares were purchased at an average price of C$1.60 per share, with a total value of C$400,000.00.

Penn West Petroleum Ltd (TSE:PWT) traded down 3.26% during midday trading on Thursday, reaching $2.08. 614,554 shares of the company were exchanged. The stock’s market capitalization is $1.05 billion. Penn West Petroleum Ltd has a 52-week low of $0.78 and a 52-week high of $2.72. The firm’s 50-day moving average price is $2.18 and its 200 day moving average price is $2.28.

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A number of equities research analysts have recently commented on the stock. Desjardins lifted their price target on shares of Penn West Petroleum from C$2.50 to C$2.75 in a report on Wednesday, December 21st. Royal Bank of Canada lifted 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. TD Securities upgraded shares of Penn West Petroleum from a “hold” rating to a “buy” rating and lifted their price target for the stock from C$2.75 to C$3.00 in a report on Thursday, March 16th. Raymond James Financial, Inc. lowered their price target on shares of Penn West Petroleum from C$3.00 to C$2.75 and set an “outperform” rating for the company in a report on Thursday, March 16th. Finally, CIBC reiterated a “neutral” rating and set a C$2.60 price target on shares of Penn West Petroleum in a report on Thursday, December 15th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Penn West Petroleum currently has an average rating of “Hold” and a consensus target price of C$2.59.

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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