Penn Virginia Resource Partners L P Stock Rating Reaffirmed by Zacks (PVR)
Penn Virginia Resource Partners L P (NYSE:PVR)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued to investors on Thursday, StockRatingsNetwork.com reports. They currently have a $24.00 target price on the stock. Zacks‘ price target indicates a potential upside of 3.36% from the stock’s previous close.
Zacks‘ analyst wrote, “PVR Partners L.P.’s second-quarter 2013 earnings per unit missed the Zacks Consensus Estimate while revenues beat the same. The improvement in revenues was primarily due to strong contribution from the natural gas business. We have identified several catalysts, including timely completion of projects, wide array of forthcoming organic and inorganic ventures, and strong operational efficiency, which will likely boost the partnership’s future performance. However, over-reliance on a limited group of customers and greater dependence on third party service-providers for receiving and supplying natural gas and natural gas liquids to its customers can marginally offset the aforesaid positives. Thus, we maintain our Neutral recommendation on the stock.”
Shares of Penn Virginia Resource Partners L P (NYSE:PVR) traded up 0.95% on Thursday, hitting $23.44. The stock had a trading volume of 486,908 shares. Penn Virginia Resource Partners L P has a 52-week low of $21.87 and a 52-week high of $29.26. The stock’s 50-day moving average is $23.64 and its 200-day moving average is $25.08. The company’s market cap is $2.244 billion.
Penn Virginia Resource Partners L P (NYSE:PVR) last posted its quarterly earnings results on Wednesday, July 24th. The company reported ($0.21) EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.11 by $0.32. The company had revenue of $273.50 million for the quarter, compared to the consensus estimate of $280.62 million. During the same quarter in the prior year, the company posted ($0.07) earnings per share. The company’s quarterly revenue was up 22.7% on a year-over-year basis. Analysts expect that Penn Virginia Resource Partners L P will post $0.31 EPS for the current fiscal year.
Penn Virginia Resource Partners, L.P. (NYSE:PVR) is a limited partnership that is principally engaged in the management of coal and natural resource properties and the gathering and processing of natural gas in the United States.
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