Penn Virginia Co. to Post FY2017 Earnings of $2.81 Per Share, Capital One Financial Forecasts (PVAC)
Penn Virginia Co. (NASDAQ:PVAC) – Equities researchers at Capital One Financial boosted their FY2017 earnings per share estimates for Penn Virginia in a research report issued to clients and investors on Tuesday. Capital One Financial analyst R. Tullis now forecasts that the company will earn $2.81 per share for the year, up from their prior estimate of $2.65. Capital One Financial also issued estimates for Penn Virginia’s Q4 2017 earnings at $0.96 EPS and Q2 2018 earnings at $1.61 EPS.
PVAC has been the topic of several other research reports. BidaskClub raised shares of Penn Virginia from a “sell” rating to a “hold” rating in a research note on Saturday, December 30th. Northland Securities reaffirmed a “buy” rating and issued a $63.00 price target on shares of Penn Virginia in a research note on Friday, November 10th. Zacks Investment Research raised shares of Penn Virginia from a “sell” rating to a “hold” rating in a research note on Thursday, December 21st. Finally, SunTrust Banks started coverage on shares of Penn Virginia in a research note on Wednesday, November 29th. They issued a “buy” rating and a $50.00 price target on the stock. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $50.00.
In other Penn Virginia news, insider Harry Quarls bought 5,000 shares of Penn Virginia stock in a transaction dated Thursday, November 30th. The stock was bought at an average price of $34.64 per share, with a total value of $173,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Highbridge Capital Management LLC acquired a new position in Penn Virginia during the third quarter worth about $414,000. Allianz Asset Management GmbH acquired a new position in Penn Virginia during the third quarter worth about $424,000. Dimensional Fund Advisors LP increased its stake in shares of Penn Virginia by 257.7% in the third quarter. Dimensional Fund Advisors LP now owns 91,389 shares of the company’s stock valued at $3,654,000 after buying an additional 65,841 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Penn Virginia by 50.1% in the third quarter. Schwab Charles Investment Management Inc. now owns 52,800 shares of the company’s stock valued at $2,111,000 after buying an additional 17,634 shares during the period. Finally, Wells Fargo & Company MN increased its stake in shares of Penn Virginia by 53.0% in the third quarter. Wells Fargo & Company MN now owns 16,125 shares of the company’s stock valued at $644,000 after buying an additional 5,588 shares during the period. 66.18% of the stock is owned by institutional investors and hedge funds.
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About Penn Virginia
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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