Penn Virginia Co. Expected to Earn FY2017 Earnings of $2.85 Per Share (PVAC)

Penn Virginia Co. (NASDAQ:PVAC) – Stock analysts at Capital One Financial boosted their FY2017 earnings per share (EPS) estimates for shares of Penn Virginia in a research report issued on Tuesday. Capital One Financial analyst R. Tullis now forecasts that the company will post earnings of $2.85 per share for the year, up from their previous forecast of $2.81. Capital One Financial also issued estimates for Penn Virginia’s FY2018 earnings at $9.52 EPS.

Penn Virginia (NASDAQ:PVAC) last released its quarterly earnings data on Wednesday, November 8th. The company reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ 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%.

Several other research analysts have also weighed in on PVAC. BidaskClub lowered shares of Penn Virginia from a “buy” rating to a “hold” rating in a research note on Tuesday, January 30th. Zacks Investment Research lowered shares of Penn Virginia from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Northland Securities reiterated a “buy” rating and issued a $63.00 price objective on shares of Penn Virginia in a research note on Friday, November 10th. Finally, SunTrust Banks set a $55.00 price objective on shares of Penn Virginia and gave the company a “buy” rating in a research note on Wednesday, January 24th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Penn Virginia has a consensus rating of “Buy” and a consensus price target of $54.75.

Penn Virginia (NASDAQ PVAC) opened at $38.87 on Thursday. The firm has a market cap of $597.32, a P/E ratio of 13.98 and a beta of 1.19. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.85 and a quick ratio of 0.85. Penn Virginia has a 12 month low of $31.00 and a 12 month high of $50.00.

In other Penn Virginia news, insider Harry Quarls purchased 5,000 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were bought at an average price of $38.72 per share, for a total transaction of $193,600.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Legal & General Group Plc acquired a new position in shares of Penn Virginia during the 2nd quarter worth $104,000. SG Americas Securities LLC acquired a new position in shares of Penn Virginia during the 3rd quarter worth $181,000. Wells Fargo & Company MN increased its stake in shares of Penn Virginia by 53.0% during the 3rd quarter. Wells Fargo & Company MN now owns 16,125 shares of the company’s stock worth $644,000 after purchasing an additional 5,588 shares during the last quarter. Voya Investment Management LLC acquired a new position in shares of Penn Virginia during the 2nd quarter worth $252,000. Finally, Nationwide Fund Advisors acquired a new position in shares of Penn Virginia during the 2nd quarter worth $297,000. Institutional investors own 66.26% of the company’s stock.

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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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