Equities analysts expect Penn Virginia Co. (NASDAQ:PVAC) to announce sales of $119.04 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Penn Virginia’s earnings, with the lowest sales estimate coming in at $113.80 million and the highest estimate coming in at $124.27 million. Penn Virginia posted sales of $124.86 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 4.7%. The business is expected to announce its next earnings report on Wednesday, February 26th.
According to Zacks, analysts expect that Penn Virginia will report full-year sales of $466.34 million for the current fiscal year, with estimates ranging from $461.10 million to $471.57 million. For the next fiscal year, analysts anticipate that the business will report sales of $493.91 million, with estimates ranging from $456.50 million to $531.32 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that follow Penn Virginia.
Penn Virginia (NASDAQ:PVAC) last posted its quarterly earnings results on Thursday, November 7th. The company reported $1.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.89 by $0.08. Penn Virginia had a net margin of 56.77% and a return on equity of 29.06%. The firm had revenue of $119.30 million during the quarter, compared to the consensus estimate of $121.18 million.
Several research firms have recently weighed in on PVAC. ValuEngine raised shares of Penn Virginia from a “hold” rating to a “buy” rating in a research note on Friday, January 3rd. Northland Securities reaffirmed a “buy” rating and set a $54.00 price target on shares of Penn Virginia in a research note on Friday, November 8th. BidaskClub downgraded shares of Penn Virginia from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Zacks Investment Research raised shares of Penn Virginia from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $60.50.
Penn Virginia stock opened at $29.72 on Wednesday. The company has a 50 day moving average price of $28.15 and a 200-day moving average price of $28.90. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.82 and a current ratio of 0.82. Penn Virginia has a fifty-two week low of $23.00 and a fifty-two week high of $58.28. The company has a market capitalization of $449.31 million, a PE ratio of 3.23 and a beta of 1.46.
Hedge funds have recently modified their holdings of the stock. Meadow Creek Investment Management LLC purchased a new position in Penn Virginia during the second quarter valued at approximately $54,000. Glen Harbor Capital Management LLC purchased a new position in Penn Virginia during the second quarter valued at approximately $66,000. Nisa Investment Advisors LLC purchased a new position in Penn Virginia during the third quarter valued at approximately $87,000. Royal Bank of Canada increased its holdings in Penn Virginia by 12.6% during the second quarter. Royal Bank of Canada now owns 3,734 shares of the company’s stock valued at $114,000 after buying an additional 417 shares during the period. Finally, Russell Investments Group Ltd. purchased a new position in Penn Virginia during the third quarter valued at approximately $173,000.
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. 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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