Penn Virginia Target of Unusually High Options Trading (PVA)
Penn Virginia (NYSE:PVA) was the recipient of unusually large options trading activity on Friday. Stock investors purchased 6,187 put options on the stock, AR Network reports. This is an increase of approximately 601% compared to the typical volume of 883 put options.
A number of analysts have recently weighed in on PVA shares. 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. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $19.55.
Penn Virginia (NYSE:PVA) traded up 6.49% on Friday, hitting $14.27. 3,219,103 shares of the company’s stock traded hands. Penn Virginia has a one year low of $4.65 and a one year high of $18.20. The stock’s 50-day moving average is $14.2 and its 200-day moving average is $15.. The company’s market cap is $994.3 million.
Penn Virginia (NYSE:PVA) last announced its earnings results on Wednesday, July 30th. 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. Analysts expect that Penn Virginia will post $-0.14 EPS for the current fiscal year.
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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