FY2018 Earnings Estimate for Penn Virginia Corporation Issued By Capital One Financial Corporation (PVAC)
Penn Virginia Corporation (NASDAQ:PVAC) – Equities researchers at Capital One Financial Corporation upped their FY2018 earnings per share estimates for shares of Penn Virginia Corporation in a research note issued to investors on Tuesday. Capital One Financial Corporation analyst R. Tullis now expects that the company will post earnings of $6.65 per share for the year, up from their previous estimate of $5.97. Capital One Financial Corporation has a “Overweight” rating on the stock.
Several other equities analysts have also issued reports on PVAC. Northland Securities set a $60.00 target price on Penn Virginia Corporation and gave the stock a “buy” rating in a research report on Monday, July 17th. Zacks Investment Research upgraded Penn Virginia Corporation from a “hold” rating to a “strong-buy” rating and set a $44.00 target price for the company in a research report on Tuesday, August 15th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $52.00.
Penn Virginia Corporation (PVAC) traded down 0.30% during mid-day trading on Thursday, reaching $39.60. 33,879 shares of the company’s stock were exchanged. Penn Virginia Corporation has a 52 week low of $35.06 and a 52 week high of $61.97. The stock has a 50-day moving average price of $39.35 and a 200-day moving average price of $39.35. The stock has a market cap of $593.68 million and a P/E ratio of 1.82.
Institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. grew its position in shares of Penn Virginia Corporation by 126.3% during the 2nd quarter. Franklin Resources Inc. now owns 585,251 shares of the company’s stock worth $21,508,000 after buying an additional 326,598 shares during the period. New York State Common Retirement Fund acquired a new position in shares of Penn Virginia Corporation during the 2nd quarter worth about $562,000. Nationwide Fund Advisors acquired a new position in shares of Penn Virginia Corporation during the 2nd quarter worth about $297,000. TIAA CREF Investment Management LLC acquired a new position in shares of Penn Virginia Corporation during the 2nd quarter worth about $1,403,000. Finally, Teachers Advisors LLC acquired a new position in shares of Penn Virginia Corporation during the 2nd quarter worth about $929,000. Institutional investors own 63.88% of the company’s stock.
In related news, insider Harry Quarls bought 5,000 shares of the firm’s stock in a transaction dated Thursday, August 17th. The stock was bought at an average cost of $38.73 per share, for a total transaction of $193,650.00. Following the transaction, the insider now owns 28,227 shares of the company’s stock, valued at $1,093,231.71. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
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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