Analysts Anticipate Penn Virginia Co. (PVAC) Will Post Quarterly Sales of $119.05 Million

Equities research analysts predict that Penn Virginia Co. (NASDAQ:PVAC) will announce $119.05 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Penn Virginia’s earnings, with estimates ranging from $111.00 million to $127.10 million. Penn Virginia posted sales of $34.46 million during the same quarter last year, which suggests a positive year over year growth rate of 245.5%. The company is scheduled to announce its next earnings report on Wednesday, November 14th.

According to Zacks, analysts expect that Penn Virginia will report full-year sales of $450.80 million for the current fiscal year, with estimates ranging from $439.00 million to $462.60 million. For the next fiscal year, analysts forecast that the business will report sales of $626.45 million per share, with estimates ranging from $595.90 million to $657.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Penn Virginia.

Penn Virginia (NASDAQ:PVAC) last posted its quarterly earnings results on Wednesday, August 8th. The company reported $2.46 EPS for the quarter, topping the Zacks’ consensus estimate of $2.44 by $0.02. Penn Virginia had a negative net margin of 3.23% and a positive return on equity of 36.88%. The firm had revenue of $111.58 million for the quarter, compared to analysts’ expectations of $105.90 million.

Several brokerages have issued reports on PVAC. BidaskClub cut shares of Penn Virginia from a “buy” rating to a “hold” rating in a report on Saturday, July 28th. Zacks Investment Research upgraded shares of Penn Virginia from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a report on Saturday, August 11th. TheStreet upgraded shares of Penn Virginia from a “d+” rating to a “c-” rating in a report on Wednesday, June 13th. LADENBURG THALM/SH SH began coverage on shares of Penn Virginia in a report on Tuesday, June 12th. They set a “buy” rating on the stock. Finally, SunTrust Banks increased their target price on shares of Penn Virginia from $100.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, June 22nd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $92.25.

Penn Virginia stock traded down $0.94 during midday trading on Friday, hitting $74.89. 165,000 shares of the company’s stock were exchanged, compared to its average volume of 224,680. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.46 and a quick ratio of 0.46. Penn Virginia has a 12 month low of $32.49 and a 12 month high of $96.13. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 25.80 and a beta of 1.30.

A number of institutional investors have recently modified their holdings of PVAC. BlackRock Inc. grew its holdings in Penn Virginia by 111.0% during the 2nd quarter. BlackRock Inc. now owns 1,959,412 shares of the company’s stock worth $166,336,000 after acquiring an additional 1,030,640 shares in the last quarter. FMR LLC bought a new position in Penn Virginia during the 2nd quarter worth about $49,293,000. Dimensional Fund Advisors LP lifted its position in shares of Penn Virginia by 52.8% during the second quarter. Dimensional Fund Advisors LP now owns 516,471 shares of the company’s stock valued at $43,843,000 after buying an additional 178,430 shares during the last quarter. GMT Capital Corp purchased a new stake in shares of Penn Virginia during the second quarter valued at about $13,285,000. Finally, New Generation Advisors LLC purchased a new stake in shares of Penn Virginia during the first quarter valued at about $4,847,000. Institutional investors own 97.92% of the company’s stock.

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. 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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