Shares of Penn Virginia Co. (NASDAQ:PVAC) have been assigned a consensus recommendation of “Hold” from the seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $55.67.
Several equities research analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Penn Virginia from a “strong-buy” rating to a “hold” rating in a report on Friday. BidaskClub raised shares of Penn Virginia from a “hold” rating to a “buy” rating in a report on Thursday, January 11th. Northland Securities set a $63.00 target price on shares of Penn Virginia and gave the stock a “buy” rating in a report on Wednesday, January 3rd. Finally, SunTrust Banks set a $55.00 target price on shares of Penn Virginia and gave the stock a “buy” rating in a report on Wednesday, January 24th.
A number of institutional investors have recently added to or reduced their stakes in the stock. MetLife Investment Advisors LLC purchased a new stake in Penn Virginia in the 4th quarter worth approximately $321,000. Strategic Value Partners LLC purchased a new stake in Penn Virginia in the 4th quarter worth approximately $60,002,000. Two Sigma Investments LP increased its holdings in Penn Virginia by 845.5% in the 4th quarter. Two Sigma Investments LP now owns 96,435 shares of the company’s stock worth $3,772,000 after acquiring an additional 86,236 shares in the last quarter. Two Sigma Advisers LP bought a new position in Penn Virginia in the 4th quarter worth approximately $1,341,000. Finally, Mangrove Partners boosted its stake in Penn Virginia by 1.9% in the 4th quarter. Mangrove Partners now owns 1,437,243 shares of the company’s stock worth $56,211,000 after purchasing an additional 26,466 shares during the period. 89.18% of the stock is owned by institutional investors.
Penn Virginia (NASDAQ:PVAC) last released its quarterly earnings results on Thursday, March 1st. The company reported $1.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.17. The firm had revenue of $54.33 million during the quarter, compared to analyst estimates of $55.95 million. Penn Virginia had a net margin of 20.56% and a return on equity of 20.39%. analysts forecast that Penn Virginia will post 8.87 EPS for the current fiscal year.
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Penn Virginia Company Profile
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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