Penn Virginia Corporation (PVAC) Announces Quarterly Earnings Results, Beats Expectations By $0.84 EPS
Penn Virginia Corporation (NASDAQ:PVAC) announced its quarterly earnings data on Tuesday. The company reported $1.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.84, reports. Penn Virginia Corporation had a negative return on equity of 1,028.53% and a net margin of 804.04%.
Shares of Penn Virginia Corporation (NASDAQ:PVAC) traded down 0.13% during trading on Tuesday, reaching $38.14. The company’s stock had a trading volume of 38,020 shares. The company’s 50-day moving average price is $37.27 and its 200 day moving average price is $43.73. Penn Virginia Corporation has a 1-year low of $31.00 and a 1-year high of $61.97. The stock has a market capitalization of $571.79 million and a price-to-earnings ratio of 2.53.
PVAC has been the subject of several research analyst reports. Northland Securities set a $60.00 price objective on Penn Virginia Corporation and gave the company a “buy” rating in a report on Monday, July 17th. Capital One Financial Corporation lowered Penn Virginia Corporation from an “overweight” rating to an “equal weight” rating in a report on Friday, July 7th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $53.00.
About Penn Virginia Corporation
Penn Virginia Corporation, an independent oil and gas company, engages in the onshore exploration, development, and production of crude oil, natural gas liquids, and natural gas in the United States. The company primarily operates wells in the Eagle Ford Shale field in South Texas. It also has operations in the Granite Wash in Oklahoma.
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