Research Analysts Issue Forecasts for Penn Virginia Co.’s Q4 2017 Earnings (PVAC)

Penn Virginia Co. (NASDAQ:PVAC) – Equities research analysts at SunTrust Banks increased their Q4 2017 earnings per share estimates for Penn Virginia in a research note issued to investors on Tuesday. SunTrust Banks analyst N. Dingmann now forecasts that the company will earn $0.71 per share for the quarter, up from their prior estimate of $0.42. SunTrust Banks currently has a “Buy” rating and a $50.00 target price on the stock. SunTrust Banks also issued estimates for Penn Virginia’s FY2019 earnings at $8.01 EPS.

Several other research analysts also recently weighed in on the company. Zacks Investment Research downgraded Penn Virginia from a “hold” rating to a “sell” rating in a research note on Wednesday, November 22nd. Northland Securities set a $57.00 price target on Penn Virginia and gave the stock a “buy” rating in a research note on Monday, December 11th. Finally, BidaskClub raised Penn Virginia from a “strong sell” rating to a “sell” rating in a report on Wednesday, December 20th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $50.00.

Penn Virginia (NASDAQ PVAC) opened at $43.30 on Thursday. Penn Virginia has a 52 week low of $31.00 and a 52 week high of $55.00. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $600.92 and a P/E ratio of 15.58.

In other news, insider Harry Quarls acquired 5,000 shares of the firm’s stock in a transaction dated Thursday, November 30th. The shares were acquired at an average cost of $34.64 per share, with a total value of $173,200.00. The transaction was disclosed in a filing with the SEC, which is available through this link.

Institutional investors and hedge funds have recently modified their holdings of the company. Schwab Charles Investment Management Inc. raised its holdings in shares of Penn Virginia by 212.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 35,166 shares of the company’s stock worth $1,293,000 after acquiring an additional 23,914 shares in the last quarter. TIAA CREF Investment Management LLC purchased a new stake in shares of Penn Virginia during the 2nd quarter worth approximately $1,403,000. Teachers Advisors LLC purchased a new stake in shares of Penn Virginia during the 2nd quarter worth approximately $929,000. Dimensional Fund Advisors LP raised its holdings in shares of Penn Virginia by 183.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 25,548 shares of the company’s stock worth $939,000 after acquiring an additional 16,547 shares in the last quarter. Finally, Voya Investment Management LLC purchased a new stake in shares of Penn Virginia during the 2nd quarter worth approximately $252,000. 66.18% of the stock is currently owned by institutional investors and hedge funds.

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Penn Virginia Company Profile

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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