NEW YORK (TheStreet) -- Shares of Penn West Petroleum (PWE) were falling 1.4% to $4.16 Monday after the oil and gas company announced the details of its 2015 capital budget and long-term production plans.
Penn West said it expects about a 13% compound annual growth rate of average daily production volume between 2015 and 2019. The company expects an average of production volume of 95,000 to 105,000 barrels of oil equivalent a day weighted about 69% toward oil and liquids in 2015.
The company's board od directors approved a 2015 capex budget of about $840 million, saying that it will continue to improve its capital efficiencies, recoveries, and profitability.
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TheStreet Ratings team rates PENN WEST PETROLEUM LTD as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate PENN WEST PETROLEUM LTD (PWE) a SELL. This is driven by multiple weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity and generally disappointing historical performance in the stock itself."