Penn Virginia (NASDAQ:PVAC) Trading Up 5.8%

Penn Virginia Co. (NASDAQ:PVAC)’s share price was up 5.8% on Monday . The company traded as high as $31.83 and last traded at $31.73, approximately 202,169 shares traded hands during mid-day trading. A decline of 13% from the average daily volume of 233,260 shares. The stock had previously closed at $30.00.

A number of research analysts recently weighed in on PVAC shares. Northland Securities reiterated a “buy” rating and issued a $60.00 price objective on shares of Penn Virginia in a research note on Thursday, August 8th. BidaskClub upgraded shares of Penn Virginia from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 24th. Capital One Financial upgraded shares of Penn Virginia from an “equal weight” rating to an “overweight” rating in a research note on Thursday, May 23rd. Imperial Capital reiterated an “outperform” rating and issued a $67.00 price objective (down from $70.00) on shares of Penn Virginia in a research note on Monday, May 13th. Finally, Zacks Investment Research lowered shares of Penn Virginia from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 16th. Three investment analysts have rated the stock with a sell rating and three have issued a buy rating to the company. Penn Virginia has an average rating of “Hold” and an average price target of $75.00.

The business’s 50-day moving average price is $30.93 and its 200 day moving average price is $40.24. The stock has a market capitalization of $433.13 million, a PE ratio of 3.45 and a beta of 1.33. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.60 and a current ratio of 0.64.

Penn Virginia (NASDAQ:PVAC) last released its quarterly earnings results on Wednesday, August 7th. The company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.01. Penn Virginia had a net margin of 47.90% and a return on equity of 37.14%. The firm had revenue of $122.77 million during the quarter, compared to analyst estimates of $122.43 million. As a group, equities research analysts predict that Penn Virginia Co. will post 8.35 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Tyers Asset Management LLC bought a new stake in shares of Penn Virginia during the 2nd quarter worth $31,000. Riverhead Capital Management LLC bought a new stake in shares of Penn Virginia during the 2nd quarter worth $34,000. Elkfork Partners LLC bought a new stake in shares of Penn Virginia during the 2nd quarter worth $43,000. Meadow Creek Investment Management LLC bought a new stake in shares of Penn Virginia during the 2nd quarter worth $54,000. Finally, Glen Harbor Capital Management LLC bought a new stake in shares of Penn Virginia during the 2nd quarter worth $66,000. 95.11% of the stock is owned by institutional investors.

About Penn Virginia (NASDAQ:PVAC)

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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