$125.03 Million in Sales Expected for Penn Virginia Co. (NASDAQ:PVAC) This Quarter

Equities research analysts forecast that Penn Virginia Co. (NASDAQ:PVAC) will announce $125.03 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Penn Virginia’s earnings, with the lowest sales estimate coming in at $124.17 million and the highest estimate coming in at $125.90 million. Penn Virginia posted sales of $127.19 million during the same quarter last year, which indicates a negative year over year growth rate of 1.7%. The firm is expected to issue its next earnings results on Thursday, November 14th.

On average, analysts expect that Penn Virginia will report full year sales of $481.98 million for the current fiscal year, with estimates ranging from $480.50 million to $483.45 million. For the next fiscal year, analysts forecast that the firm will post sales of $524.21 million, with estimates ranging from $503.40 million to $545.03 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Penn Virginia.

Penn Virginia (NASDAQ:PVAC) last announced its earnings results on Wednesday, August 7th. The company reported $1.96 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.95 by $0.01. Penn Virginia had a net margin of 47.90% and a return on equity of 37.14%. The company had revenue of $122.77 million during the quarter, compared to the consensus estimate of $122.43 million.



PVAC has been the subject of a number of research analyst reports. Zacks Investment Research downgraded shares of Penn Virginia from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 16th. Imperial Capital reaffirmed an “outperform” rating and issued a $67.00 target price (down from $70.00) on shares of Penn Virginia in a research note on Monday, May 13th. Capital One Financial raised shares of Penn Virginia from an “equal weight” rating to an “overweight” rating in a research note on Thursday, May 23rd. Northland Securities reaffirmed a “buy” rating and issued a $60.00 target price on shares of Penn Virginia in a research note on Thursday, August 8th. Finally, BidaskClub raised shares of Penn Virginia from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 24th. Three investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $75.00.

Shares of NASDAQ PVAC traded down $0.23 during trading on Thursday, reaching $31.25. The company had a trading volume of 337,563 shares, compared to its average volume of 232,838. Penn Virginia has a 52 week low of $27.33 and a 52 week high of $89.62. The stock has a market cap of $476.18 million, a PE ratio of 3.40 and a beta of 1.33. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.15. The business’s 50 day moving average is $30.99.

Large investors have recently modified their holdings of the business. Tyers Asset Management LLC bought a new stake in Penn Virginia in the second quarter valued at approximately $31,000. Riverhead Capital Management LLC acquired a new position in shares of Penn Virginia in the second quarter valued at approximately $34,000. Elkfork Partners LLC acquired a new position in shares of Penn Virginia in the second quarter valued at approximately $43,000. Meadow Creek Investment Management LLC acquired a new position in shares of Penn Virginia in the second quarter valued at approximately $54,000. Finally, Glen Harbor Capital Management LLC acquired a new position in shares of Penn Virginia in the second quarter valued at approximately $66,000. 99.23% of the stock is owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for Penn Virginia (NASDAQ:PVAC)

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