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A statement released earlier today by RBC Capital Markets about Penn West Petroleum (TSE:PWT) raises the target price to $2.50

Penn West Petroleum (TSE:PWT) had its target price raised to $2.50 by RBC Capital Markets in an issued report issued Thursday June 08, 2017. The upped price target implies a potential upside of 0.40% from the company's previous close.

On 6/05/2017, Canaccord Genuity released a statement on Penn West Petroleum (TSE:PWT) upped the target price from $0.00 to $2.10 that suggested an upside of 0.15%.

Having a price of $1.79, Penn West Petroleum (TSE:PWT) traded -4.60% lower on the day. With the last close down -22.85% from the two hundred day average, compared with the Standard & Poor's 500 Index which has increased 0.03% over the same period. PWT has recorded a 50-day average of $1.89 and a two hundred day average of $2.15. Trade Volume was up over the average, with 2,637,366 shares of PWT changing hands over the typical 959,450

Recent Performance Chart

Penn West Petroleum (TSE:PWT)

Penn West Petroleum has 52 week low of $1.56 and a 52 week high of $2.72 and has a market cap of $0.

In addition to RBC Capital Markets reporting its stock price target, a total of 13 brokers have issued a report on the company. The one year target is $2.00 with zero equity analysts rating the company a strong buy, four brokerages rating the company a buy, six analysts rating the company a hold, three analysts rating the company a underperform, and lastly 0 brokers rating the stock a sell.

Brief Synopsis On Penn West Petroleum (TSE:PWT)

Obsidian Energy Ltd, formerly Penn West Petroleum Ltd, is a Canada-based conventional oil and natural gas producer and development and production company. The Company operates a portfolio of opportunities with an oil position in the Cardium, Viking and Peace River areas of Alberta. The Alberta Viking area offers a mix of light-oil and gas with high-netback shorter cycle wells to complement longer cycle activities in the Cardium. The Cardium is concentrated on the low-decline and high-netback light-oil production. The Company is focused on an integrated waterflood approach in which it maintain reservoir pressure from the start of production to reduce decline rates on new wells. The Peace River operates in a crude oil resource industry.

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