Penn West Stock To Go Ex-dividend Tomorrow (PWE)

NEW YORK ( TheStreet) -- The ex-dividend date for Penn West Petroleum (NYSE: PWE) is tomorrow, June 27, 2012. Owners of shares as of market close today will be eligible for a dividend of 27 cents per share. At a price of $12.59 as of 10:04 a.m. ET, the dividend yield is 8.5%.

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 $6.04 billion and is part of the basic materials sector and energy industry. Shares are down 35.5% year to date as of the close of trading on Monday.

Penn West Petroleum Ltd., an exploration and production company, engages in acquiring, exploring, developing, exploiting, and holding interests in petroleum and natural gas properties and related assets in Western Canada. The company has a P/E ratio of 4.6, below the average energy industry P/E ratio of 14.3 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 robust revenue growth, expanding profit margins and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and disappointing return on equity. You can view the full Penn West Ratings Report.

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