Penn Virginia (PVAC) Downgraded by BidaskClub to Sell

Penn Virginia (NASDAQ:PVAC) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Several other research analysts have also recently commented on PVAC. Zacks Investment Research raised Penn Virginia from a “hold” rating to a “buy” rating and set a $95.00 target price for the company in a research report on Tuesday, July 3rd. LADENBURG THALM/SH SH raised their target price on Penn Virginia from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, July 6th. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $94.75.

Shares of PVAC stock opened at $67.39 on Friday. The firm has a market capitalization of $1.13 billion, a P/E ratio of 23.40 and a beta of 1.42. Penn Virginia has a one year low of $32.49 and a one year high of $96.13. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.46 and a quick ratio of 0.46.



Penn Virginia (NASDAQ:PVAC) last issued its earnings results on Wednesday, August 8th. The company reported $2.46 EPS for the quarter, topping the consensus estimate of $2.44 by $0.02. The firm had revenue of $111.58 million during the quarter, compared to analysts’ expectations of $105.90 million. Penn Virginia had a positive return on equity of 36.88% and a negative net margin of 3.23%. As a group, sell-side analysts predict that Penn Virginia will post 10.54 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of PVAC. Wells Fargo & Company MN lifted its position in Penn Virginia by 156.5% in the first quarter. Wells Fargo & Company MN now owns 53,850 shares of the company’s stock worth $1,886,000 after purchasing an additional 32,854 shares during the period. Schwab Charles Investment Management Inc. raised its stake in Penn Virginia by 3.3% during the first quarter. Schwab Charles Investment Management Inc. now owns 67,237 shares of the company’s stock worth $2,356,000 after acquiring an additional 2,145 shares in the last quarter. BlackRock Inc. raised its stake in Penn Virginia by 22.8% during the first quarter. BlackRock Inc. now owns 928,772 shares of the company’s stock worth $32,545,000 after acquiring an additional 172,288 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Penn Virginia by 81.1% during the first quarter. Dimensional Fund Advisors LP now owns 338,041 shares of the company’s stock worth $11,845,000 after acquiring an additional 151,350 shares in the last quarter. Finally, UBS Group AG raised its stake in Penn Virginia by 77.6% during the first quarter. UBS Group AG now owns 2,854 shares of the company’s stock worth $100,000 after acquiring an additional 1,247 shares in the last quarter. 97.88% of the stock is owned by hedge funds and other 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. The company also has operations in the Granite Wash in Oklahoma.

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