Penn Virginia Corp. Rating Increased to Outperform at Credit Suisse (PVA)
Penn Virginia Corp. (NYSE:PVA) was upgraded by stock analysts at Credit Suisse from a “neutral” rating to an “outperform” rating in a report issued on Friday, TheFlyOnTheWall.com reports. The firm currently has a $11.00 price target on the stock, up from their previous price target of $7.00. Credit Suisse’s target price indicates a potential upside of 29.26% from the stock’s previous close.
A number of other analysts have also recently weighed in on PVA. Analysts at Barclays reiterated a “sell” rating on shares of Penn Virginia Corp. in a research note to investors on Thursday. They now have a $7.00 price target on the stock. Separately, analysts at MLV Capital raised their price target on shares of Penn Virginia Corp. from $9.00 to $10.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Finally, analysts at Canaccord Genuity reiterated a “buy” rating on shares of Penn Virginia Corp. in a research note to investors on Monday, October 21st. They now have a $8.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $8.56.
Shares of Penn Virginia Corp. (NYSE:PVA) traded up 6.93% during mid-day trading on Friday, hitting $9.10. 2,199,135 shares of the company’s stock traded hands. Penn Virginia Corp. has a 52-week low of $3.56 and a 52-week high of $9.00. The stock has a 50-day moving average of $7.05 and a 200-day moving average of $5.3. The company’s market cap is $592.1 million.
Penn Virginia Corp. (NYSE:PVA) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.02) EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.48 by $0.50. The company had revenue of $121.60 million for the quarter, compared to the consensus estimate of $523.84 million. During the same quarter in the previous year, the company posted ($0.17) earnings per share. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. Analysts expect that Penn Virginia Corp. will post $-0.64 EPS for the current fiscal year.
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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