Research Analysts’ Recent Ratings Changes for Penn Virginia (PVAC)

Several brokerages have updated their recommendations and price targets on shares of Penn Virginia (NASDAQ: PVAC) in the last few weeks:

  • 11/8/2019 – Penn Virginia had its “buy” rating reaffirmed by analysts at Northland Securities. They now have a $54.00 price target on the stock.
  • 11/6/2019 – Penn Virginia was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 10/31/2019 – Penn Virginia was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 10/23/2019 – Penn Virginia was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 10/17/2019 – Penn Virginia was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 10/8/2019 – Penn Virginia was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Penn Virginia Corporation is an oil and gas company. It engaged in exploration, development and production of oil, NGLs and natural gas. The company operates primarily in Eagle Ford Shale in South Texas and Oklahoma. Penn Virginia Corporation is headquatered in Houston, Texas. “
  • 10/4/2019 – Penn Virginia was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 10/2/2019 – Penn Virginia was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 9/12/2019 – Penn Virginia was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 9/10/2019 – Penn Virginia was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Penn Virginia Corporation is an oil and gas company. It engaged in exploration, development and production of oil, NGLs and natural gas. The company operates primarily in Eagle Ford Shale in South Texas and Oklahoma. Penn Virginia Corporation is headquatered in Houston, Texas. “

NASDAQ:PVAC traded up $0.75 during trading hours on Friday, hitting $28.03. 298,500 shares of the company were exchanged, compared to its average volume of 222,296. The stock has a market capitalization of $417.26 million, a price-to-earnings ratio of 3.05 and a beta of 1.37. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.15. Penn Virginia Co. has a one year low of $23.00 and a one year high of $66.83. The company has a fifty day simple moving average of $27.50 and a 200 day simple moving average of $31.66.

Penn Virginia (NASDAQ:PVAC) last announced its earnings results on Wednesday, August 7th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.95 by $0.01. The business had revenue of $122.77 million during the quarter, compared to analyst estimates of $122.43 million. Penn Virginia had a return on equity of 37.14% and a net margin of 47.90%. Equities research analysts predict that Penn Virginia Co. will post 8.06 earnings per share for the current fiscal year.

In other news, CFO Steven A. Hartman sold 18,586 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $32.98, for a total value of $612,966.28. Also, CFO Steven A. Hartman sold 12,925 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $32.58, for a total value of $421,096.50. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. 1492 Capital Management LLC purchased a new position in Penn Virginia in the third quarter worth $357,000. Russell Investments Group Ltd. purchased a new stake in shares of Penn Virginia during the third quarter valued at approximately $173,000. California Public Employees Retirement System purchased a new stake in shares of Penn Virginia during the third quarter valued at approximately $203,000. State of Tennessee Treasury Department boosted its holdings in Penn Virginia by 120.2% in the third quarter. State of Tennessee Treasury Department now owns 12,254 shares of the company’s stock worth $356,000 after purchasing an additional 6,689 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan boosted its holdings in Penn Virginia by 142.3% in the third quarter. Municipal Employees Retirement System of Michigan now owns 25,100 shares of the company’s stock worth $729,000 after purchasing an additional 14,740 shares during the last quarter. 98.22% of the stock is currently owned by hedge funds and other institutional investors.

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. It primarily operates wells in the Eagle Ford Shale field in South Texas. As of December 31, 2018, it had total proved reserves of approximately 123 million barrels of oil equivalent; and 460 gross productive wells, as well as owned approximately 98,200 gross acres of leasehold and royalty interests.

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