NEW YORK ( TheStreet) -- The ex-dividend date for Penn West Petroleum (NYSE: PWE) is tomorrow, June 28, 2011. Owners of shares as of market close today will be eligible for a dividend of 28 cents per share. At a price of $22.21 as of 10:02 a.m. ET, the dividend yield is 4.9%.

The average volume for Penn West has been 1.9 million shares per day over the past 30 days. Penn West has a market cap of $10.6 billion and is part of the basic materials sector and energy industry. Shares are down 7.1% year to date as of the close of trading on Friday.

Penn West Petroleum Ltd. engages in acquiring, exploring, developing, exploiting, and holding interests in petroleum and natural gas properties and related assets in North America. The company produces light and medium crude oil, natural gas liquids, heavy oil, and natural gas. The company has a P/E ratio of 24, above the average energy industry P/E ratio of 23.5 and above the S&P 500 P/E ratio of 17.7.
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TheStreet Ratings rates Penn West as a hold. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, impressive record of earnings per share growth and expanding profit margins. However, as a counter to these strengths, we find that we feel that the company's cash flow from its operations has been weak overall. You can view the full Penn West Ratings Report.

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