Penn Virginia Co. (NASDAQ:PVAC) – Analysts at Capital One Financial boosted their FY2017 earnings estimates for Penn Virginia in a report issued on Tuesday, Zacks Investment Research reports. Capital One Financial analyst R. Tullis now expects that the company will earn $2.85 per share for the year, up from their prior forecast of $2.81. Capital One Financial also issued estimates for Penn Virginia’s FY2018 earnings at $9.52 EPS.
Several other analysts have also weighed in on the company. BidaskClub upgraded Penn Virginia from a “sell” rating to a “hold” rating in a report on Saturday, December 30th. Northland Securities set a $57.00 price objective on Penn Virginia and gave the company a “buy” rating in a report on Monday, December 11th. Zacks Investment Research lowered Penn Virginia from a “hold” rating to a “sell” rating in a report on Wednesday, November 22nd. Finally, SunTrust Banks initiated coverage on Penn Virginia in a report on Wednesday, November 29th. They issued a “buy” rating and a $50.00 price objective for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $54.75.
Shares of Penn Virginia (NASDAQ:PVAC) opened at $37.68 on Thursday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $563.11, a price-to-earnings ratio of 13.55 and a beta of 1.19. Penn Virginia has a twelve month low of $31.00 and a twelve month high of $50.00.
In related news, insider Harry Quarls bought 5,000 shares of Penn Virginia stock in a transaction dated Thursday, November 30th. The stock was acquired at an average cost of $34.64 per share, with a total value of $173,200.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Strategic Value Partners LLC purchased a new stake in shares of Penn Virginia during the fourth quarter valued at $60,002,000. Mangrove Partners lifted its holdings in shares of Penn Virginia by 1.9% during the fourth quarter. Mangrove Partners now owns 1,437,243 shares of the company’s stock valued at $56,211,000 after purchasing an additional 26,466 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Penn Virginia by 7.9% during the fourth quarter. BlackRock Inc. now owns 756,484 shares of the company’s stock valued at $29,586,000 after purchasing an additional 55,664 shares during the last quarter. Encompass Capital Advisors LLC purchased a new stake in shares of Penn Virginia during the fourth quarter valued at $29,215,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Penn Virginia by 1,626.0% during the second quarter. Vanguard Group Inc. now owns 273,605 shares of the company’s stock valued at $10,055,000 after purchasing an additional 257,753 shares during the last quarter. 66.52% of the stock is owned by institutional investors and hedge funds.
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About Penn Virginia
Penn Virginia Corporation, an independent oil and gas company, engages in the onshore exploration, development, and production of crude oil, natural gas liquids, and natural gas in the United States. The company primarily operates wells in the Eagle Ford Shale field in South Texas. It also has operations in the Granite Wash in Oklahoma.
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