Penn Virginia Resource Partners L P Given Neutral Rating at Zacks (PVR)
Penn Virginia Resource Partners L P (NYSE:PVR)‘s stock had its “neutral” rating reiterated by Zacks in a research note issued on Friday, AnalystRatings.NET reports. They currently have a $28.00 price objective on the stock. Zacks‘ price target would suggest a potential upside of 5.62% from the stock’s previous close.
Zacks‘ analyst wrote, “PVR Partners’ results benefited from strong contributions from the Eastern Midstream and Midcontinent Midstream segments, offset by higher interest expenses and an increase in units outstanding. We appreciate the partnership’s steady investment in growth projects and winning of long-term service contracts from the upstream companies at regular intervals, which may act as catalysts for future performance. However, over-reliance on a limited number of customers, greater dependence on third party service providers and increasing government regulation on coal fired power generation raise concerns. Thus, we have maintained our Neutral recommendation on the stock.”
Separately, 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. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Penn Virginia Resource Partners L P presently has a consensus rating of “Hold” and an average price target of $27.80.
Shares of Penn Virginia Resource Partners L P (NYSE:PVR) traded down 0.04% during mid-day trading on Friday, hitting $26.50. 107,497 shares of the company’s stock traded hands. 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 $25.23 and its 200-day moving average is $25.21. The company’s market cap is $2.699 billion.
Penn Virginia Resource Partners L P (NYSE:PVR) last released its earnings data on Thursday, October 24th. The company reported ($0.09) earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.16 earnings per share. Penn Virginia Resource Partners L P’s revenue was up 7.4% compared to the same quarter last 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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