Zacks: Analysts Anticipate Penn Virginia Co. (PVAC) Will Post Quarterly Sales of $55.40 Million

Equities analysts expect that Penn Virginia Co. (NASDAQ:PVAC) will report sales of $55.40 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Penn Virginia’s earnings, with estimates ranging from $54.00 million to $56.80 million. Penn Virginia posted sales of $32.65 million in the same quarter last year, which suggests a positive year-over-year growth rate of 69.7%. The company is expected to announce its next earnings report on Wednesday, March 21st.

According to Zacks, analysts expect that Penn Virginia will report full-year sales of $55.40 million for the current fiscal year, with estimates ranging from $160.00 million to $162.90 million. For the next year, analysts expect that the business will report sales of $381.65 million per share, with estimates ranging from $378.30 million to $385.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Penn Virginia.

Penn Virginia (NASDAQ:PVAC) last released its quarterly earnings data on Wednesday, November 8th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.53 by $0.04. Penn Virginia had a net margin of 30.22% and a return on equity of 16.76%.

PVAC has been the topic of several recent research reports. Northland Securities reaffirmed a “buy” rating and issued a $63.00 price objective on shares of Penn Virginia in a report on Thursday, October 12th. Zacks Investment Research downgraded shares of Penn Virginia from a “hold” rating to a “sell” rating in a report on Wednesday, November 22nd. SunTrust Banks initiated coverage on shares of Penn Virginia in a report on Wednesday, November 29th. They issued a “buy” rating and a $50.00 price objective on the stock. Finally, BidaskClub raised shares of Penn Virginia from a “strong sell” rating to a “sell” rating in a report on Wednesday, December 20th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Penn Virginia currently has a consensus rating of “Buy” and a consensus target price of $54.75.

Shares of Penn Virginia (NASDAQ:PVAC) opened at $45.70 on Monday. The company has a market cap of $685.70 and a price-to-earnings ratio of 18.81. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.06. Penn Virginia has a twelve month low of $31.00 and a twelve month high of $51.00.

In other news, insider Harry Quarls purchased 5,000 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were purchased 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 Securities & Exchange Commission, which is accessible through this link.

A number of hedge funds and other institutional investors have recently made changes to their positions in PVAC. Vanguard Group Inc. boosted its holdings in Penn Virginia by 1,626.0% during the second quarter. Vanguard Group Inc. now owns 273,605 shares of the company’s stock worth $10,055,000 after buying an additional 257,753 shares in the last quarter. State Street Corp purchased a new position in Penn Virginia during the second quarter valued at $8,130,000. Mangrove Partners lifted its holdings in Penn Virginia by 16.2% during the second quarter. Mangrove Partners now owns 1,410,777 shares of the company’s stock valued at $51,846,000 after purchasing an additional 196,390 shares in the last quarter. Northern Trust Corp lifted its holdings in Penn Virginia by 3,117.6% during the second quarter. Northern Trust Corp now owns 142,283 shares of the company’s stock valued at $5,229,000 after purchasing an additional 137,861 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Penn Virginia by 257.7% during the third quarter. Dimensional Fund Advisors LP now owns 91,389 shares of the company’s stock valued at $3,654,000 after purchasing an additional 65,841 shares in the last quarter. 66.26% of the stock is currently owned by hedge funds and other institutional investors.

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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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