Penn Virginia Co. (NASDAQ:PVAC) – Stock analysts at SunTrust Banks cut their Q3 2018 earnings per share (EPS) estimates for Penn Virginia in a research report issued to clients and investors on Wednesday, August 8th. SunTrust Banks analyst N. Dingmann now expects that the company will post earnings per share of $1.77 for the quarter, down from their previous forecast of $2.59. SunTrust Banks currently has a “Buy” rating and a $108.00 target price on the stock. SunTrust Banks also issued estimates for Penn Virginia’s Q4 2018 earnings at $2.28 EPS, FY2018 earnings at $8.00 EPS, FY2019 earnings at $10.23 EPS and FY2020 earnings at $8.11 EPS.
Penn Virginia (NASDAQ:PVAC) last posted its quarterly earnings data on Wednesday, August 8th. The company reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.44 by $0.02. Penn Virginia had a positive return on equity of 36.88% and a negative net margin of 3.23%. The company had revenue of $111.58 million during the quarter, compared to analysts’ expectations of $105.90 million.
Shares of PVAC stock opened at $78.60 on Monday. The company has a market cap of $1.20 billion, a PE ratio of 28.42 and a beta of 1.32. Penn Virginia has a 12-month low of $32.49 and a 12-month high of $96.13. The company has a quick ratio of 0.52, a current ratio of 0.46 and a debt-to-equity ratio of 1.89.
In other news, Director Diversified Asset Manageme Kls sold 283,726 shares of the stock in a transaction that occurred on Wednesday, May 16th. The stock was sold at an average price of $61.68, for a total transaction of $17,500,219.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.41% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Laurion Capital Management LP purchased a new position in Penn Virginia in the 2nd quarter valued at approximately $414,000. Richard Bernstein Advisors LLC purchased a new position in Penn Virginia in the 2nd quarter valued at approximately $1,721,000. Teton Advisors Inc. purchased a new position in Penn Virginia in the 2nd quarter valued at approximately $560,000. FMR LLC purchased a new position in Penn Virginia in the 2nd quarter valued at approximately $49,293,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in Penn Virginia in the 2nd quarter valued at approximately $333,000. 92.33% of the stock is owned by hedge funds and other institutional investors.
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. The company also has operations in the Granite Wash in Oklahoma.
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