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Although we don ;t stanley vattenflaska believe in timing the market or panicking over market movements, we do like to keep an eye on big changes just in case they ;re material stanley quencher to our stanley cup investing thesis.What: Shares of Penn West Petroleum Ltd TSX:PWT, NYSE:PWE sank 10% today after the oil and natural producer Q4 update disappointed Bay Street.So what: The stock has plunged in recent months on skepticism over management turnaround initiatives, and today Q4 update only reinforces those worries. While Penn West announced yet another non-core asset disposition for expected proceeds of $175 million, downbeat production guidance for 2014 suggests that a return to profitable growth will take much longer than expected.Now what: Management now sees 2014 production of 101,000-106,000 boe per day, down from its prior view of 105,000-110,000 boe per day. With a solid fourth quarter 2013 development program completed, Penn West is actively executing on its