Penn Virginia (PVAC) Raised to Hold at BidaskClub

BidaskClub upgraded shares of Penn Virginia (NASDAQ:PVAC) from a sell rating to a hold rating in a research note released on Thursday, BidAskClub reports.

Other equities research analysts have also recently issued research reports about the stock. TheStreet cut shares of Penn Virginia from a c- rating to a d+ rating in a research report on Tuesday, April 16th. Capital One Financial cut shares of Penn Virginia from an overweight rating to an equal weight rating in a research report on Wednesday, January 9th. ValuEngine upgraded shares of Penn Virginia from a sell rating to a hold rating in a research report on Monday, February 4th. Zacks Investment Research upgraded shares of Penn Virginia from a sell rating to a hold rating in a research report on Wednesday, December 26th. Finally, Northland Securities upgraded shares of Penn Virginia from a market perform rating to an outperform rating in a report on Thursday, March 21st. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Penn Virginia presently has an average rating of Hold and an average price target of $105.33.

Shares of NASDAQ:PVAC traded down $0.78 during trading on Thursday, hitting $44.24. 148,680 shares of the company’s stock were exchanged, compared to its average volume of 293,485. Penn Virginia has a 1-year low of $40.23 and a 1-year high of $96.13. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.21 and a quick ratio of 1.21. The stock has a market cap of $668.25 million, a price-to-earnings ratio of 4.80 and a beta of 0.94.

Penn Virginia (NASDAQ:PVAC) last issued its quarterly earnings results on Wednesday, February 27th. The company reported $2.56 EPS for the quarter, missing the consensus estimate of $3.80 by ($1.24). Penn Virginia had a return on equity of 48.83% and a net margin of 50.99%. The business had revenue of $124.86 million for the quarter, compared to analyst estimates of $143.60 million. Equities research analysts anticipate that Penn Virginia will post 9.78 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of PVAC. PNC Financial Services Group Inc. grew its holdings in Penn Virginia by 429.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 678 shares of the company’s stock valued at $37,000 after purchasing an additional 550 shares during the period. BNP Paribas Arbitrage SA lifted its stake in Penn Virginia by 51,600.0% in the first quarter. BNP Paribas Arbitrage SA now owns 2,585 shares of the company’s stock valued at $114,000 after buying an additional 2,580 shares in the last quarter. LS Investment Advisors LLC lifted its stake in Penn Virginia by 715.0% in the fourth quarter. LS Investment Advisors LLC now owns 3,260 shares of the company’s stock valued at $176,000 after buying an additional 2,860 shares in the last quarter. Municipal Employees Retirement System of Michigan bought a new position in Penn Virginia in the fourth quarter valued at approximately $208,000. Finally, United Services Automobile Association lifted its stake in Penn Virginia by 48.5% in the fourth quarter. United Services Automobile Association now owns 4,084 shares of the company’s stock valued at $221,000 after buying an additional 1,333 shares in the last quarter. Hedge funds and other institutional investors own 99.03% 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. 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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