The ex-dividend date for Penn West Petroleum (NYSE:PWE) is tomorrow, March 28, 2012. Owners of shares as of market close today will be eligible for a dividend of 27 cents per share. At a price of $20.84 as of 9:30 a.m., the dividend yield is 5.3%.
NEW YORK ( TheStreet) -- The ex-dividend date for Penn West Petroleum (NYSE: PWE) is tomorrow, March 28, 2012. Owners of shares as of market close today will be eligible for a dividend of 27 cents per share. At a price of $20.84 as of 9:30 a.m. ET, the dividend yield is 5.3%. The average volume for Penn West has been 2.1 million shares per day over the past 30 days. Penn West has a market cap of $10.16 billion and is part of the basic materials sector and energy industry. Shares are up 5.3% year to date as of the close of trading on Monday. 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 6.3, below the average energy industry P/E ratio of 14.5 and below the S&P 500 P/E ratio of 17.7.
TheStreet Ratings rates Penn West as a hold. The company's strengths can be seen in multiple areas, such as its good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income and a generally disappointing performance in the stock itself. You can view the full Penn West Ratings Report. See our dividend calendar or top-yielding stocks list.