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BMO Capital Markets announced Penn West Petroleum (TSE:PWT), bumping up its stock price target to $2.00 today

In a report released on 6/8/2017 BMO Capital Markets increased the stock price target of Penn West Petroleum (TSE:PWT) to $2.00 indicating a possible upside of 0.12%.

Previously on 06/05/2017, Canaccord Genuity reported about Penn West Petroleum (TSE:PWT) raised the target price from $0.00 to $2.10. At the time, this indicated a possible upside of 0.15%.

Yesterday Penn West Petroleum (TSE:PWT) traded -4.60% lower at $1.79. The company’s 50-day moving average is $1.89 and its 200-day moving average is $2.15. The last stock close price is down -22.85% from the 200-day moving average, compared to the S&P 500 which has increased 0.03% over the same time. 2,637,366 shares of the stock were exchanged, up from an average trading volume of 959,450

See Chart Below

Penn West Petroleum (TSE:PWT)

Penn West Petroleum has a 52 week low of $1.56 and a 52 week high of $2.72 The company’s market cap is currently $0.

In addition to BMO Capital Markets reporting its target price, a total of 13 firms have reported on the stock. The consensus target price is $2.00 with 0 firms rating the stock a strong buy, 4 firms rating the stock a buy, 6 firms rating the stock a hold, 3 firms rating the stock a underperform, and finally 0 firms rating the stock a sell.

About 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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