Brokerages expect Penn Virginia Co. (NASDAQ:PVAC) to announce sales of $120.03 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Penn Virginia’s earnings, with the highest sales estimate coming in at $124.17 million and the lowest estimate coming in at $115.90 million. Penn Virginia reported sales of $127.19 million during the same quarter last year, which indicates a negative year over year growth rate of 5.6%. The business is scheduled to issue its next quarterly earnings results on Thursday, November 14th.
On average, analysts expect that Penn Virginia will report full year sales of $472.13 million for the current fiscal year, with estimates ranging from $460.80 million to $483.45 million. For the next financial year, analysts expect that the business will report sales of $510.46 million, with estimates ranging from $475.90 million to $545.03 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Penn Virginia.
Penn Virginia (NASDAQ:PVAC) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.01. Penn Virginia had a return on equity of 37.14% and a net margin of 47.90%. The business had revenue of $122.77 million for the quarter, compared to analyst estimates of $122.43 million.
Several equities analysts have recently issued reports on the company. Zacks Investment Research lowered Penn Virginia from a “hold” rating to a “sell” rating in a research note on Tuesday, October 8th. ValuEngine raised Penn Virginia from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. BidaskClub raised Penn Virginia from a “strong sell” rating to a “sell” rating in a research note on Thursday. Finally, Northland Securities reaffirmed a “buy” rating and set a $60.00 price target on shares of Penn Virginia in a research note on Thursday, August 8th. Two analysts have rated the stock with a sell rating and four have issued a buy rating to the company. Penn Virginia currently has a consensus rating of “Hold” and a consensus price target of $63.50.
Shares of PVAC traded down $0.17 during trading hours on Wednesday, hitting $26.13. 131,025 shares of the stock traded hands, compared to its average volume of 226,344. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.15. Penn Virginia has a 1-year low of $24.59 and a 1-year high of $76.52. The firm has a market capitalization of $410.31 million, a PE ratio of 2.84 and a beta of 1.41. The business has a fifty day moving average of $29.25 and a 200-day moving average of $33.06.
In related news, CFO Steven A. Hartman sold 18,586 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $32.98, for a total value of $612,966.28. Also, CFO Steven A. Hartman sold 12,925 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $32.58, for a total value of $421,096.50. The disclosure for this sale can be found here. Corporate insiders own 0.36% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PVAC. Tyers Asset Management LLC bought a new stake in Penn Virginia in the second quarter valued at about $31,000. Riverhead Capital Management LLC bought a new stake in Penn Virginia in the second quarter valued at about $34,000. Elkfork Partners LLC bought a new stake in Penn Virginia in the second quarter valued at about $43,000. Meadow Creek Investment Management LLC bought a new stake in Penn Virginia in the second quarter valued at about $54,000. Finally, Glen Harbor Capital Management LLC bought a new stake in Penn Virginia in the second quarter valued at about $66,000. Institutional investors and hedge funds own 98.22% 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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