Penn Virginia Stock Price Down 5.1% Following Weak Earnings (PVA)
Penn Virginia (NYSE:PVA)’s share price fell 5.1% during mid-day trading on Wednesday following a dissappointing earnings announcement, Stock Ratings Network.com reports. The company traded as low as $14.34 and last traded at $14.43, with a volume of 1,761,264 shares traded. The stock had previously closed at $15.21.
The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by $0.04. The company had revenue of $139.40 million for the quarter, compared to the consensus estimate of $149.60 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 27.1% on a year-over-year basis.
PVA has been the subject of a number of recent research reports. Analysts at Barclays raised their price target on shares of Penn Virginia from $16.00 to $18.00 in a research note on Wednesday, July 23rd. Separately, 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. Finally, 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. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $19.17.
The stock’s 50-day moving average is $15.44 and its 200-day moving average is $14.97. The company’s market cap is $957.9 million.
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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