Shares of Penn Virginia Co. (NASDAQ:PVAC) have been given a consensus recommendation of “Hold” by the eight research firms that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $109.00.
PVAC has been the topic of a number of research reports. Zacks Investment Research downgraded Penn Virginia from a “hold” rating to a “sell” rating in a report on Wednesday, December 19th. BidaskClub downgraded Penn Virginia from a “hold” rating to a “sell” rating in a report on Saturday, December 22nd. ValuEngine upgraded Penn Virginia from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 2nd. Capital One Financial downgraded Penn Virginia from an “overweight” rating to an “equal weight” rating in a report on Wednesday, January 9th. Finally, Northland Securities upgraded Penn Virginia from a “market perform” rating to an “outperform” rating in a report on Thursday, March 21st. They noted that the move was a valuation call.
Several large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in shares of Penn Virginia by 1.7% during the 3rd quarter. BlackRock Inc. now owns 1,992,345 shares of the company’s stock valued at $160,464,000 after buying an additional 32,933 shares during the period. Vanguard Group Inc. raised its holdings in shares of Penn Virginia by 11.1% during the 3rd quarter. Vanguard Group Inc. now owns 801,900 shares of the company’s stock valued at $64,585,000 after buying an additional 79,988 shares during the period. Vanguard Group Inc raised its holdings in shares of Penn Virginia by 11.1% during the 3rd quarter. Vanguard Group Inc now owns 801,900 shares of the company’s stock valued at $64,585,000 after buying an additional 79,988 shares during the period. FMR LLC raised its holdings in shares of Penn Virginia by 16.4% during the 3rd quarter. FMR LLC now owns 675,777 shares of the company’s stock valued at $54,427,000 after buying an additional 95,115 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Penn Virginia by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 554,019 shares of the company’s stock worth $29,951,000 after purchasing an additional 4,421 shares during the last quarter. Institutional investors and hedge funds own 99.03% of the company’s stock.
Penn Virginia (NASDAQ:PVAC) last released its quarterly earnings data on Wednesday, February 27th. The company reported $2.56 EPS for the quarter, missing analysts’ consensus estimates of $3.80 by ($1.24). The firm had revenue of $124.86 million during the quarter, compared to analysts’ expectations of $143.60 million. Penn Virginia had a return on equity of 48.83% and a net margin of 50.99%. As a group, research analysts forecast that Penn Virginia will post 10.02 earnings per share for the current fiscal year.
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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