The two W ratings must be old school nomenclature, since it's either a 10W-40 or a 20W-40. It can't be both, unless this was the blender's way of showing compatability with the requirement of straight twenty grades for cold weather in really old engines.
Are you sure this is Pennzoil?
Those do look more like Valvoline cans.
Anyway, I'd use it in a side valve mower without hesitation and I'd probably use it to top off a quart in something that uses oil, but I don't think I'd use it in anything modern.