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Penn Virginia (NYSE:PVA) was upgraded by investment analysts at Stifel from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The firm currently has a $23.00 price objective on the stock. Stifel’s price objective would indicate a potential upside of 54.78% from the stock’s previous close.

Shares of Penn Virginia (NYSE:PVA) opened at 14.86 on Friday. Penn Virginia has a 1-year low of $4.43 and a 1-year high of $18.20. The stock has a 50-day moving average of $15.61 and a 200-day moving average of $13.72. The company’s market cap is $971.0 million.

Penn Virginia (NYSE:PVA) last released its earnings data on Monday, May 12th. The company reported $0.12 earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.06) by $0.18. The company had revenue of $133.20 million for the quarter, compared to the consensus estimate of $134.33 million. During the same quarter last year, the company posted ($0.19) earnings per share. Penn Virginia’s revenue was up 128.2% compared to the same quarter last year. Analysts expect that Penn Virginia will post $-0.01 EPS for the current fiscal year.

A number of other analysts have also recently weighed in on PVA. Analysts at Stifel Nicolaus upgraded shares of Penn Virginia from a “hold” rating to a “buy” rating in a research note on Friday. They now have a $23.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at MLV & Co
raised their price target on shares of Penn Virginia from $20.00 to $22.00 in a research note on Thursday. They now have a “buy” rating on the stock. Finally, analysts at MLV & Co
reiterated a “buy” rating on shares of Penn Virginia in a research note on Tuesday, June 3rd. They now have a $20.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Penn Virginia presently has a consensus rating of “Buy” and an average target price of $19.08.

Penn Virginia Corporation (NYSE:PVA) is an independent oil and gas company engaged primarily in the exploration, development and production of oil, natural gas liquids (NGL) and natural gas in various domestic onshore regions of the United States, including Texas, the Mid-Continent and Mississippi.

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