Penn West Petroleum Ltd (OBE) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Penn West Petroleum Ltd (NYSE:OBE) (TSE:PWT) announced its quarterly earnings results on Wednesday. The oil and gas company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.01, Briefing.com reports. The company had revenue of $111 million during the quarter. Penn West Petroleum had a negative net margin of 95.25% and a negative return on equity of 22.87%. The company’s revenue was down 46.9% compared to the same quarter last year.

Penn West Petroleum (NYSE:OBE) traded down 3.64% during trading on Wednesday, hitting $1.06. 1,345,503 shares of the stock were exchanged. The stock’s market cap is $534.48 million. The stock has a 50 day moving average of $1.40 and a 200-day moving average of $1.61. Penn West Petroleum has a 52 week low of $1.06 and a 52 week high of $2.05.

ILLEGAL ACTIVITY NOTICE: This news story was reported by Ticker Report and is owned by of Ticker Report. If you are viewing this news story on another domain, it was copied illegally and republished in violation of international copyright and trademark legislation. The legal version of this news story can be read at https://www.tickerreport.com/banking-finance/2796075/penn-west-petroleum-ltd-obe-releases-quarterly-earnings-results-beats-estimates-by-0-01-eps.html.

A number of analysts recently weighed in on the company. Zacks Investment Research upgraded Penn West Petroleum from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Raymond James Financial, Inc. downgraded Penn West Petroleum from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 12th. AltaCorp Capital cut shares of Penn West Petroleum from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, April 11th. ValuEngine raised shares of Penn West Petroleum from a “sell” rating to a “hold” rating in a research report on Tuesday, May 16th. Finally, Canaccord Genuity began coverage on shares of Penn West Petroleum in a research report on Monday, June 5th. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $2.37.

Penn West Petroleum Company Profile

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.

Earnings History for Penn West Petroleum (NYSE:OBE)

Receive News & Ratings for Penn West Petroleum Ltd Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Penn West Petroleum Ltd and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


Leave a Reply

© 2006-2017 Ticker Report. Google+.