Penn Virginia Corp.’s “Buy” Rating Reaffirmed at SunTrust (PVA)
Penn Virginia Corp. (NYSE:PVA)‘s stock had its “buy” rating restated by equities researchers at SunTrust in a research report issued on Thursday, AnalystRatingsNetwork.com reports. They currently have a $9.00 price objective on the stock. SunTrust’s price objective would indicate a potential upside of 19.52% from the company’s current price.
Shares of Penn Virginia Corp. (NYSE:PVA) traded up 5.17% during mid-day trading on Thursday, hitting $7.53. The stock had a trading volume of 1,765,928 shares. Penn Virginia Corp. has a 52 week low of $3.56 and a 52 week high of $7.50. The stock has a 50-day moving average of $5.82 and a 200-day moving average of $4.89. The company’s market cap is $489.9 million.
Penn Virginia Corp. (NYSE:PVA) last released its earnings data on Wednesday, August 7th. The company reported ($0.17) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.16) by $0.01. The company had revenue of $109.73 million for the quarter, compared to the consensus estimate of $111.74 million. During the same quarter last year, the company posted ($0.23) earnings per share. Penn Virginia Corp.’s revenue was up 43.9% compared to the same quarter last year. On average, analysts predict that Penn Virginia Corp. will post $-0.62 earnings per share for the current fiscal year.
PVA has been the subject of a number of other recent research reports. Analysts at Canaccord Genuity raised their price target on shares of Penn Virginia Corp. from $7.50 to $8.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Howard Weil raised their price target on shares of Penn Virginia Corp. from $10.00 to $12.00 in a research note to investors on Friday, October 4th. They now have a “sector outperform” rating on the stock. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of Penn Virginia Corp. in a research note to investors on Thursday, September 12th. They now have a $7.00 price target on the stock, up previously from $6.50. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $7.25.
Penn Virginia Corporation (NYSE:PVA) is an independent oil and gas company primarily engaged in the exploration, development and production of natural gas and oil in various domestic onshore regions of the United States, including Texas, Appalachia, the Mid-Continent and Mississippi.
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