Penn Virginia Co. (NASDAQ:PVAC) – Capital One Financial reduced their Q2 2019 earnings per share (EPS) estimates for shares of Penn Virginia in a note issued to investors on Monday, July 8th. Capital One Financial analyst R. Tullis now anticipates that the company will post earnings of $2.11 per share for the quarter, down from their previous forecast of $2.14. Capital One Financial currently has a “Overweight” rating on the stock. Capital One Financial also issued estimates for Penn Virginia’s Q4 2019 earnings at $2.27 EPS and FY2020 earnings at $8.69 EPS.
Penn Virginia (NASDAQ:PVAC) last issued its quarterly earnings data on Thursday, May 9th. The company reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.41. The firm had revenue of $105.23 million during the quarter, compared to the consensus estimate of $107.56 million. Penn Virginia had a return on equity of 45.92% and a net margin of 37.49%.
A number of other analysts also recently issued reports on the company. Northland Securities reissued a “hold” rating and set a $8.00 price objective on shares of Evolution Petroleum in a research report on Thursday, March 21st. TheStreet raised Transcontinental Realty Investors from a “d+” rating to a “c+” rating in a research report on Tuesday, April 16th. Imperial Capital reissued an “outperform” rating and set a $67.00 price objective (down from $70.00) on shares of Penn Virginia in a research report on Monday, May 13th. BidaskClub downgraded Inovio Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 1st. Finally, Zacks Investment Research downgraded EXACT Sciences from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. Penn Virginia currently has a consensus rating of “Hold” and a consensus price target of $82.50.
Shares of NASDAQ:PVAC opened at $30.43 on Tuesday. The business’s 50-day simple moving average is $30.54. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.26. The firm has a market cap of $439.02 million, a P/E ratio of 3.31 and a beta of 1.32. Penn Virginia has a 12-month low of $27.33 and a 12-month high of $92.95.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PVAC. Alpine Associates Management Inc. acquired a new position in Penn Virginia in the 4th quarter valued at about $13,023,000. Prescott Group Capital Management L.L.C. grew its position in Penn Virginia by 679.5% in the 1st quarter. Prescott Group Capital Management L.L.C. now owns 234,061 shares of the company’s stock valued at $10,322,000 after acquiring an additional 204,034 shares in the last quarter. Manikay Partners LLC acquired a new position in Penn Virginia in the 4th quarter valued at about $9,606,000. Assenagon Asset Management S.A. acquired a new position in Penn Virginia in the 1st quarter valued at about $5,980,000. Finally, Westwood Holdings Group Inc. grew its position in Penn Virginia by 19.9% in the 1st quarter. Westwood Holdings Group Inc. now owns 791,256 shares of the company’s stock valued at $34,894,000 after acquiring an additional 131,478 shares in the last quarter. 89.29% of the stock is owned by institutional investors.
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. 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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