Brokerages Expect Penn Virginia Co. (NASDAQ:PVAC) Will Post Quarterly Sales of $119.04 Million

Wall Street analysts expect Penn Virginia Co. (NASDAQ:PVAC) to post sales of $119.04 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Penn Virginia’s earnings, with the highest sales estimate coming in at $124.27 million and the lowest estimate coming in at $113.80 million. Penn Virginia posted sales of $124.86 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 4.7%. The company is scheduled to announce its next earnings report on Wednesday, February 26th.

According to Zacks, analysts expect that Penn Virginia will report full-year sales of $466.34 million for the current financial year, with estimates ranging from $461.10 million to $471.57 million. For the next financial year, analysts anticipate that the company will report sales of $493.91 million, with estimates ranging from $456.50 million to $531.32 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Penn Virginia.

Penn Virginia (NASDAQ:PVAC) last announced its quarterly earnings data on Thursday, November 7th. The company reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.08. Penn Virginia had a return on equity of 29.06% and a net margin of 56.77%. The company had revenue of $119.30 million for the quarter, compared to the consensus estimate of $121.18 million.

PVAC has been the topic of a number of research reports. ValuEngine downgraded shares of Penn Virginia from a “buy” rating to a “hold” rating in a research report on Tuesday. Zacks Investment Research upgraded shares of Penn Virginia from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Northland Securities reaffirmed a “buy” rating and issued a $54.00 price target on shares of Penn Virginia in a research note on Friday, November 8th. Finally, BidaskClub lowered shares of Penn Virginia from a “sell” rating to a “strong sell” rating in a report on Saturday, November 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $60.50.

Shares of PVAC stock traded up $1.24 during trading hours on Friday, hitting $25.59. 11,270 shares of the company were exchanged, compared to its average volume of 179,635. The company has a 50 day simple moving average of $25.85 and a two-hundred day simple moving average of $29.53. The firm has a market cap of $365.22 million, a P/E ratio of 2.78 and a beta of 1.36. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.82 and a current ratio of 0.82. Penn Virginia has a fifty-two week low of $23.00 and a fifty-two week high of $62.92.

In other news, CFO Steven A. Hartman sold 18,586 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $32.98, for a total transaction of $612,966.28. Company insiders own 0.36% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in PVAC. Caymus Capital Partners L.P. acquired a new stake in shares of Penn Virginia in the 2nd quarter worth about $9,577,000. Oaktree Capital Management LP purchased a new stake in Penn Virginia in the 2nd quarter valued at $7,639,000. Morgan Stanley raised its position in Penn Virginia by 1,029.3% in the 2nd quarter. Morgan Stanley now owns 213,638 shares of the company’s stock valued at $6,555,000 after buying an additional 194,721 shares during the last quarter. Renaissance Technologies LLC bought a new position in Penn Virginia during the 2nd quarter valued at $4,013,000. Finally, Wells Fargo & Company MN lifted its stake in Penn Virginia by 22.7% during the 2nd quarter. Wells Fargo & Company MN now owns 385,591 shares of the company’s stock valued at $11,830,000 after acquiring an additional 71,230 shares in the last quarter. 98.22% of the stock is currently 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. 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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