Canaccord Genuity Keeps a Hold Rating on Penn West Petroleum

By Carrie Williams

Penn West Petroleum (TSX: PWT), the Materials sector company was revisited today, yet the Wall Street analyst remains currently on the sidelines. Analyst Sam Roach from Canaccord Genuity reiterated a Hold rating, with a C$2.10 price target.

According to TipRanks.com, Roach is ranked #3078 out of 4579 analysts.

Currently, the analyst consensus on Penn West Petroleum is Hold and the average price target is C$2.50, representing a 38.1% upside.

In a report issued on May 29, RBC Capital also reiterated a Hold rating on the stock with a C$2.50 price target.

Penn West Petroleum’s market cap is currently C$927.4M and has a P/E ratio of 0.

Penn West Petroleum Ltd. is a conventional oil and natural gas producer in Canada. It explores and produces oil and natural gas resources. The company engages in the business of acquiring, exploring, developing, exploiting and holding interests in petroleum and natural gas properties and related assets. Its portfolio of properties includes Cardium, Viking and Peace River areas of Alberta. Penn West Petroleum was founded on December 27, 1979 and is headquartered in Calgary, Canada.

The company’s shares closed last Monday at $1.81.