Penn Virginia (NASDAQ:PVAC) Issues Quarterly Earnings Results

Penn Virginia (NASDAQ:PVAC) issued its quarterly earnings data on Thursday. The company reported $1.97 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.89 by $0.08, Fidelity Earnings reports. The firm had revenue of $119.30 million for the quarter, compared to analysts’ expectations of $121.18 million. Penn Virginia had a net margin of 47.90% and a return on equity of 37.14%.

Shares of PVAC traded up $0.75 during mid-day trading on Friday, hitting $28.03. 298,500 shares of the company traded hands, compared to its average volume of 222,296. Penn Virginia has a one year low of $23.00 and a one year high of $66.83. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.15. The business has a 50-day moving average of $27.41 and a 200 day moving average of $31.60. The stock has a market capitalization of $417.26 million, a price-to-earnings ratio of 3.05 and a beta of 1.37.

PVAC has been the topic of several research analyst reports. BidaskClub raised shares of Penn Virginia from a “strong sell” rating to a “sell” rating in a research note on Wednesday. Zacks Investment Research cut shares of Penn Virginia from a “hold” rating to a “sell” rating in a research note on Tuesday, October 8th. Northland Securities reissued a “buy” rating and set a $54.00 price target on shares of Penn Virginia in a research note on Friday. Finally, ValuEngine cut shares of Penn Virginia from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. Penn Virginia has an average rating of “Hold” and a consensus price target of $60.50.

In related news, CFO Steven A. Hartman sold 18,586 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $32.98, for a total value of $612,966.28. Also, CFO Steven A. Hartman sold 12,925 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $32.58, for a total transaction of $421,096.50. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.

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 for Penn Virginia (NASDAQ:PVAC)

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