Capital One Financial Upgrades Penn Virginia (PVAC) to Overweight

Capital One Financial upgraded shares of Penn Virginia (NASDAQ:PVAC) from an equal weight rating to an overweight rating in a research report sent to investors on Thursday morning, The Fly reports.

Several other equities analysts have also recently weighed in on PVAC. Zacks Investment Research upgraded shares of Penn Virginia from a strong sell rating to a hold rating in a research note on Saturday, May 18th. BidaskClub cut shares of Penn Virginia from a hold rating to a sell rating in a research note on Wednesday, March 27th. Imperial Capital reiterated an outperform rating and issued a $67.00 price objective (down previously from $70.00) on shares of Penn Virginia in a research note on Monday, May 13th. ValuEngine cut shares of Penn Virginia from a sell rating to a strong sell rating in a research note on Friday, April 19th. Finally, TheStreet cut shares of Penn Virginia from a c- rating to a d+ rating in a research note on Tuesday, April 16th. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $95.75.

PVAC opened at $32.78 on Thursday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.26. The stock has a market cap of $495.18 million, a price-to-earnings ratio of 3.57 and a beta of 0.93. Penn Virginia has a 52-week low of $32.58 and a 52-week high of $96.13.

Penn Virginia (NASDAQ:PVAC) last issued its quarterly earnings data on Wednesday, February 27th. The company reported $2.56 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.80 by ($1.24). Penn Virginia had a return on equity of 45.92% and a net margin of 37.49%. The business had revenue of $124.86 million during the quarter, compared to the consensus estimate of $143.60 million. As a group, analysts expect that Penn Virginia will post 9.41 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its stake in Penn Virginia by 429.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 678 shares of the company’s stock worth $37,000 after acquiring an additional 550 shares during the period. BNP Paribas Arbitrage SA raised its stake in Penn Virginia by 51,600.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,585 shares of the company’s stock worth $114,000 after acquiring an additional 2,580 shares during the period. LS Investment Advisors LLC raised its stake in Penn Virginia by 715.0% during the 4th quarter. LS Investment Advisors LLC now owns 3,260 shares of the company’s stock worth $176,000 after acquiring an additional 2,860 shares during the period. NumerixS Investment Technologies Inc bought a new stake in Penn Virginia during the 1st quarter worth approximately $156,000. Finally, Pearl River Capital LLC bought a new stake in Penn Virginia during the 1st quarter worth approximately $154,000. Institutional investors own 99.69% of the company’s stock.

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. 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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Analyst Recommendations for Penn Virginia (NASDAQ:PVAC)

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