Analysts Set Expectations for Penn Virginia Corporation’s FY2018 Earnings (PVAC)
Penn Virginia Corporation (NASDAQ:PVAC) – Capital One Financial Corporation reduced their FY2018 EPS estimates for Penn Virginia Corporation in a research note issued on Thursday. Capital One Financial Corporation analyst R. Tullis now forecasts that the company will post earnings per share of $6.33 for the year, down from their prior estimate of $6.65. Capital One Financial Corporation currently has a “Overweight” rating on the stock.
A number of other research firms also recently commented on PVAC. Zacks Investment Research downgraded Penn Virginia Corporation from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 7th. Northland Securities reaffirmed a “buy” rating and set a $63.00 target price on shares of Penn Virginia Corporation in a report on Friday. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $52.00.
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Penn Virginia Corporation (PVAC) traded down $0.02 during trading on Monday, hitting $38.70. The company had a trading volume of 102,100 shares, compared to its average volume of 58,195. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.85 and a quick ratio of 0.85. Penn Virginia Corporation has a 12-month low of $15.00 and a 12-month high of $61.97. The firm has a market capitalization of $580.97 and a P/E ratio of 15.93.
In related news, insider Harry Quarls purchased 5,000 shares of the firm’s stock in a transaction on Thursday, August 17th. The stock was bought at an average cost of $38.73 per share, with a total value of $193,650.00. Following the completion of the acquisition, the insider now owns 28,227 shares of the company’s stock, valued at approximately $1,093,231.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Large investors have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. lifted its holdings in Penn Virginia Corporation by 212.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 35,166 shares of the company’s stock valued at $1,293,000 after acquiring an additional 23,914 shares during the period. Bank of New York Mellon Corp acquired a new position in Penn Virginia Corporation in the second quarter valued at approximately $1,590,000. Teachers Advisors LLC acquired a new position in Penn Virginia Corporation in the second quarter valued at approximately $929,000. Citigroup Inc. acquired a new position in Penn Virginia Corporation in the second quarter valued at approximately $822,000. Finally, Martingale Asset Management L P acquired a new position in Penn Virginia Corporation in the second quarter valued at approximately $721,000. 64.38% of the stock is owned by institutional investors.
About Penn Virginia Corporation
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. The company primarily operates wells in the Eagle Ford Shale field in South Texas. It also has operations in the Granite Wash in Oklahoma.
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