Penn Virginia (PVAC) Lowered to “D+” at TheStreet

Penn Virginia (NASDAQ:PVAC) was downgraded by equities research analysts at TheStreet from a “c-” rating to a “d+” rating in a research note issued on Tuesday, TheStreetRatingsTable reports.

Other equities research analysts also recently issued research reports about the stock. BidaskClub upgraded shares of Penn Virginia from a “strong sell” rating to a “sell” rating in a research report on Thursday. ValuEngine downgraded shares of Penn Virginia from a “hold” rating to a “sell” rating in a research report on Monday, April 1st. Northland Securities upgraded shares of Penn Virginia from a “market perform” rating to an “outperform” rating in a research report on Thursday, March 21st. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Penn Virginia from a “hold” rating to a “sell” rating in a research report on Wednesday, December 19th. Finally, Capital One Financial downgraded shares of Penn Virginia from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, January 9th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $105.33.

PVAC stock opened at $41.66 on Tuesday. Penn Virginia has a 12-month low of $40.23 and a 12-month high of $96.13. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.21 and a quick ratio of 1.21. The company has a market capitalization of $630.04 million, a price-to-earnings ratio of 4.53 and a beta of 0.94.

Penn Virginia (NASDAQ:PVAC) last released its earnings results on Wednesday, February 27th. The company reported $2.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.80 by ($1.24). Penn Virginia had a return on equity of 48.83% and a net margin of 50.99%. The company had revenue of $124.86 million during the quarter, compared to analysts’ expectations of $143.60 million. On average, research analysts expect that Penn Virginia will post 10.02 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans raised its holdings in shares of Penn Virginia by 2.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 9,596 shares of the company’s stock valued at $519,000 after purchasing an additional 211 shares in the last quarter. Texas Permanent School Fund raised its holdings in shares of Penn Virginia by 4.1% during the 4th quarter. Texas Permanent School Fund now owns 8,779 shares of the company’s stock valued at $475,000 after purchasing an additional 347 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Penn Virginia by 429.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 678 shares of the company’s stock valued at $37,000 after purchasing an additional 550 shares in the last quarter. Teachers Advisors LLC raised its holdings in shares of Penn Virginia by 3.0% during the 3rd quarter. Teachers Advisors LLC now owns 24,958 shares of the company’s stock valued at $2,010,000 after purchasing an additional 727 shares in the last quarter. Finally, Arizona State Retirement System raised its holdings in shares of Penn Virginia by 6.3% during the 4th quarter. Arizona State Retirement System now owns 20,660 shares of the company’s stock valued at $1,117,000 after purchasing an additional 1,219 shares in the last quarter. Institutional investors and hedge funds own 99.03% of the company’s stock.

Penn Virginia Company Profile

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. It primarily operates wells in the Eagle Ford Shale field in South Texas. As of December 31, 2018, it had total proved reserves of approximately 123 million barrels of oil equivalent; and 460 gross productive wells, as well as owned approximately 98,200 gross acres of leasehold and royalty interests.

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