Barclays Increases Penn Virginia Price Target to $18.00 (PVA)
Investment analysts at Barclays boosted their target price on shares of Penn Virginia (NYSE:PVA) from $16.00 to $18.00 in a note issued to investors on Wednesday. Barclays’ price objective suggests a potential upside of 18.97% from the stock’s previous close.
Shares of Penn Virginia (NYSE:PVA) traded down 0.13% during mid-day trading on Wednesday, hitting $15.13. The stock had a trading volume of 2,183,598 shares. Penn Virginia has a 52-week low of $4.50 and a 52-week high of $18.20. The stock’s 50-day moving average is $15.35 and its 200-day moving average is $14.77. The company’s market cap is $988.6 million.
Penn Virginia (NYSE:PVA) last released its earnings data on Monday, May 12th. The company reported $0.12 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted ($0.19) earnings per share. The company’s quarterly revenue was up 128.2% on a year-over-year basis. On average, analysts predict that Penn Virginia will post $-0.01 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 from $20.00 to $22.00 in a research note on Friday, July 11th. They now have a “buy” rating on the stock. Separately, analysts at SunTrust raised their price target on shares of Penn Virginia from $27.00 to $28.00 in a research note on Monday, June 23rd. Finally, analysts at Stifel Nicolaus upgraded shares of Penn Virginia from a “hold” rating to a “buy” rating in a research note on Friday, June 13th. They now have a $23.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $19.17.
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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