Penn Virginia (PVAC) Given a $60.00 Price Target at SunTrust Banks

SunTrust Banks set a $60.00 target price on Penn Virginia (NASDAQ:PVAC) in a research report report published on Thursday morning, MarketBeat.com reports. The firm currently has a buy rating on the stock.

PVAC has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of Penn Virginia from a sell rating to a hold rating in a research report on Thursday, December 21st. BidaskClub raised shares of Penn Virginia from a strong sell rating to a sell rating in a report on Wednesday, December 20th. Finally, Northland Securities set a $63.00 price target on shares of Penn Virginia and gave the stock a buy rating in a report on Wednesday, January 3rd. One research analyst has 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. The stock presently has a consensus rating of Hold and an average price target of $58.33.

NASDAQ:PVAC traded up $1.28 on Thursday, reaching $41.31. 27,661 shares of the company’s stock were exchanged, compared to its average volume of 137,409. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $580.65, a PE ratio of 13.90 and a beta of 1.46. Penn Virginia has a 52 week low of $31.00 and a 52 week high of $48.17.



Penn Virginia (NASDAQ:PVAC) last issued its earnings results on Thursday, March 1st. The company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.17. The firm had revenue of $54.33 million during the quarter, compared to analyst estimates of $55.95 million. Penn Virginia had a net margin of 20.56% and a return on equity of 20.39%. analysts anticipate that Penn Virginia will post 8.87 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in PVAC. Strategic Value Partners LLC purchased a new stake in shares of Penn Virginia in the fourth quarter worth about $60,002,000. Encompass Capital Advisors LLC purchased a new stake in shares of Penn Virginia in the fourth quarter worth about $29,215,000. Allianz Asset Management GmbH lifted its holdings in shares of Penn Virginia by 1,725.9% in the fourth quarter. Allianz Asset Management GmbH now owns 193,769 shares of the company’s stock worth $7,579,000 after buying an additional 183,157 shares in the last quarter. Two Sigma Investments LP lifted its holdings in shares of Penn Virginia by 845.5% in the fourth quarter. Two Sigma Investments LP now owns 96,435 shares of the company’s stock worth $3,772,000 after buying an additional 86,236 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Penn Virginia by 257.7% in the third quarter. Dimensional Fund Advisors LP now owns 91,389 shares of the company’s stock worth $3,654,000 after buying an additional 65,841 shares in the last quarter. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

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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. The company also has operations in the Granite Wash in Oklahoma.

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