Penn West Energy (PWE) is getting Mr. Market excited. Management has already raised the guidance for the new year that was previously issued. The stock has risen from its lows, but expectations of more capital gains and a bright future remain intact. It is still very early in the turnaround process. So investors can still invest in a very promising situation that is listed on a major exchange. Plus this turnaround situation has a few advantages not shared by other competitors.
Source: Seeking Alpha Website
This stock is already up nicely from its lows. While some may not consider this stock a bargain in the traditional sense, the management is unusually deep and experienced for a company of this size. So investors are getting quite a bargain in the form of the management of this company. Mr. Market could be anticipating quite a growth trajectory and the initial announcement excites investors.
Not all bargains are listed on the balance sheet. Some cannot even be reasonably valued. But that does not mean that investors are not getting a bargain. This management will be expected to do more with the same assets than many competitors because of the advertised management experience. Time will tell if those expectations are realized, but management appears to be off to a good start.
https://seekingalpha.com/article/4056549-penn-west-energy-going-excel