Penn Virginia (PVAC) Cut to Sell at BidaskClub

BidaskClub lowered shares of Penn Virginia (NASDAQ:PVAC) from a hold rating to a sell rating in a research note issued to investors on Friday morning.

PVAC has been the subject of several other research reports. Zacks Investment Research lowered shares of Penn Virginia from a buy rating to a hold rating in a report on Wednesday, January 10th. Northland Securities reissued a buy rating and issued a $63.00 price target on shares of Penn Virginia in a report on Friday, November 10th. Finally, SunTrust Banks set a $55.00 price target on shares of Penn Virginia and gave the company a buy rating in a report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $54.75.

Shares of Penn Virginia (PVAC) traded down $0.15 during trading on Friday, hitting $37.15. 165,423 shares of the company’s stock traded hands, compared to its average volume of 105,894. The company has a market cap of $559.66, a PE ratio of 13.36 and a beta of 1.19. Penn Virginia has a 52 week low of $31.00 and a 52 week high of $50.00. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.06.

Penn Virginia (NASDAQ:PVAC) last issued its earnings results 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%. research analysts forecast that Penn Virginia will post 2.78 earnings per share for the current fiscal year.

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

Several hedge funds have recently made changes to their positions in PVAC. Vanguard Group Inc. boosted its stake in Penn Virginia by 1,626.0% in the 2nd quarter. Vanguard Group Inc. now owns 273,605 shares of the company’s stock worth $10,055,000 after purchasing an additional 257,753 shares during the period. State Street Corp acquired a new position in Penn Virginia in the 2nd quarter worth $8,130,000. Northern Trust Corp boosted its stake in Penn Virginia by 3,117.6% in the 2nd quarter. Northern Trust Corp now owns 142,283 shares of the company’s stock worth $5,229,000 after purchasing an additional 137,861 shares during the period. Dimensional Fund Advisors LP boosted its stake in Penn Virginia by 257.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 91,389 shares of the company’s stock worth $3,654,000 after purchasing an additional 65,841 shares during the period. Finally, BlackRock Inc. boosted its stake in Penn Virginia by 7.9% in the 4th quarter. BlackRock Inc. now owns 756,484 shares of the company’s stock worth $29,586,000 after purchasing an additional 55,664 shares during the period. 66.26% of the stock is owned by institutional investors.

WARNING: This piece was first published by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this piece on another site, it was copied illegally and republished in violation of US and international trademark & copyright laws. The correct version of this piece can be accessed at https://sportsperspectives.com/2018/02/10/penn-virginia-pvac-cut-to-sell-at-bidaskclub.html.

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.

Analyst Recommendations for Penn Virginia (NASDAQ:PVAC)

Receive News & Ratings for Penn Virginia Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Penn Virginia and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply