Analysts Set Penn Virginia Co. (NASDAQ:PVAC) Price Target at $67.00

Penn Virginia Co. (NASDAQ:PVAC) has been given an average rating of “Hold” by the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $67.00.

Several brokerages recently weighed in on PVAC. Northland Securities cut shares of Penn Virginia from an “outperform” rating to a “market perform” rating in a research report on Friday, March 13th. BidaskClub cut shares of Penn Virginia from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Zacks Investment Research cut shares of Penn Virginia from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Finally, ValuEngine lowered shares of Penn Virginia from a “sell” rating to a “strong sell” rating in a research note on Wednesday.

Shares of Penn Virginia stock traded up $0.74 on Monday, hitting $3.64. 1,459,200 shares of the company traded hands, compared to its average volume of 405,536. The stock has a market capitalization of $41.68 million, a P/E ratio of 0.78 and a beta of 1.72. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.68 and a current ratio of 0.68. Penn Virginia has a 52 week low of $0.99 and a 52 week high of $48.36. The business has a 50-day simple moving average of $11.86 and a 200 day simple moving average of $23.60.

Penn Virginia (NASDAQ:PVAC) last released its quarterly earnings data on Thursday, February 27th. The company reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.83. Penn Virginia had a net margin of 15.00% and a return on equity of 28.43%. The firm had revenue of $123.20 million for the quarter, compared to analysts’ expectations of $121.39 million. Research analysts expect that Penn Virginia will post 6.82 earnings per share for the current year.

In other Penn Virginia news, major shareholder Strategic Value Partners, Llc sold 100,617 shares of Penn Virginia stock in a transaction on Friday, February 7th. The shares were sold at an average price of $20.55, for a total transaction of $2,067,679.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.36% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Swiss National Bank boosted its stake in shares of Penn Virginia by 2.5% during the fourth quarter. Swiss National Bank now owns 20,200 shares of the company’s stock valued at $613,000 after purchasing an additional 500 shares during the period. CFM Wealth Partners LLC purchased a new stake in shares of Penn Virginia during the fourth quarter valued at $26,000. Bank of America Corp DE boosted its stake in shares of Penn Virginia by 1.9% during the fourth quarter. Bank of America Corp DE now owns 53,866 shares of the company’s stock valued at $1,635,000 after purchasing an additional 982 shares during the period. Montgomery Investment Management Inc. boosted its stake in shares of Penn Virginia by 6.3% during the fourth quarter. Montgomery Investment Management Inc. now owns 16,900 shares of the company’s stock valued at $513,000 after purchasing an additional 1,000 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in shares of Penn Virginia during the fourth quarter valued at $32,000.

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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