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 restated by Zacks in a research note issued on Monday, American Banking and Market News reports. They currently have a $27.00 price objective on the stock. Zacks‘ target price would suggest a potential upside of 3.25% from the stock’s previous close.
Zacks‘ analyst wrote, “PVR Partners L.P.’s earnings per unit in third quarter lagged the Zacks Consensus Estimate, while revenues beat the same. Earnings declined primarily due to increase in expenses and unit dilution compared to prior year period. Improvement in revenues primarily stemmed strong contribution from the Eastern Midstream and Midcontinent Midstream segments. Recently, PVR Partners and Regency Energy Partners LP approved a deal, where the former will be acquired by Regency Energy. However, over-reliance on a limited number of customers and greater dependence on third party service-providers for receiving and supplying natural gas and natural gas liquids keeps us cautious. Thus, we maintain our Neutral recommendation on the stock.”
Several other analysts have also recently commented on the stock. Analysts at BB&T Corp. downgraded shares of Penn Virginia Resource Partners L P from a “buy” rating to a “hold” rating in a research note to investors on Monday, October 14th. They now have a $28.00 price target on the stock. Analysts at Citigroup Inc. initiated coverage on shares of Penn Virginia Resource Partners L P in a research note to investors on Monday, September 30th. They set a “buy” rating on the stock. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $27.67.
Penn Virginia Resource Partners L P (NYSE:PVR) traded down 0.47% on Monday, hitting $26.0283. 145,708 shares of the company’s stock traded hands. Penn Virginia Resource Partners L P has a one year low of $21.87 and a one year high of $29.26. The stock’s 50-day moving average is $23.96 and its 200-day moving average is $25.07. The company’s market cap is $2.489 billion.
Penn Virginia Resource Partners L P (NYSE:PVR) last issued its quarterly earnings data on Thursday, October 24th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by $0.17. The company had revenue of $288.96 million for the quarter, compared to the consensus estimate of $277.70 million. During the same quarter in the previous year, the company posted $0.16 earnings per share. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. Analysts expect that Penn Virginia Resource Partners L P will post $0.29 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, November 13th. Investors of record on Wednesday, November 6th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 8.41%. The ex-dividend date is Monday, November 4th.
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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