Insider Buying: Penn Virginia CEO Purchases $146,700 in Stock (PVA)
Penn Virginia (NYSE:PVA) CEO H Baird Whitehead purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The shares were purchased at an average price of $14.67 per share, for a total transaction of $146,700.00. Following the completion of the transaction, the chief executive officer now directly owns 182,386 shares of the company’s stock, valued at approximately $2,675,603. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Penn Virginia (NYSE:PVA) remained flat at $14.74 during trading on Wednesday. The stock had a trading volume of 2,277,518 shares. Penn Virginia has a 1-year low of $4.65 and a 1-year high of $18.20. The stock’s 50-day moving average is $14.21 and its 200-day moving average is $15.. The company’s market cap is $1.027 billion.
Penn Virginia (NYSE:PVA) last released its earnings data on Wednesday, July 30th. The company reported ($0.07) EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted ($0.17) earnings per share. The company’s quarterly revenue was up 27.1% on a year-over-year basis. Analysts expect that Penn Virginia will post $-0.23 EPS for the current fiscal year.
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 analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Penn Virginia currently has a consensus rating of “Buy” and a consensus price target of $19.55.
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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