Penn Virginia (NASDAQ:PVAC)‘s stock had its “buy” rating reissued by research analysts at Northland Securities in a report released on Friday, AnalystRatings.com reports. They currently have a $54.00 price target on the stock. Northland Securities’ price target suggests a potential upside of 92.65% from the stock’s current price.
A number of other equities analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Penn Virginia from a “hold” rating to a “sell” rating in a report on Tuesday, October 8th. BidaskClub upgraded shares of Penn Virginia from a “strong sell” rating to a “sell” rating in a report on Wednesday. Finally, ValuEngine lowered shares of Penn Virginia from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $60.50.
Shares of PVAC stock traded up $0.75 during mid-day trading on Friday, hitting $28.03. The stock had a trading volume of 298,500 shares, compared to its average volume of 222,296. Penn Virginia has a 12-month low of $23.00 and a 12-month high of $66.83. The firm has a market capitalization of $417.26 million, a P/E ratio of 3.05 and a beta of 1.37. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.64 and a quick ratio of 0.64. The firm’s 50-day moving average is $27.41 and its two-hundred day moving average is $31.60.
Penn Virginia (NASDAQ:PVAC) last posted its earnings results on Thursday, November 7th. The company reported $1.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.89 by $0.08. The business had revenue of $119.30 million during the quarter, compared to the consensus estimate of $121.18 million. Penn Virginia had a return on equity of 37.14% and a net margin of 47.90%. Analysts expect that Penn Virginia will post 8.06 EPS for the current year.
In related news, CFO Steven A. Hartman sold 18,586 shares of Penn Virginia stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $32.98, for a total transaction of $612,966.28. Also, CFO Steven A. Hartman sold 12,925 shares of Penn Virginia stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $32.58, for a total transaction of $421,096.50. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of PVAC. 1492 Capital Management LLC acquired a new stake in Penn Virginia during the third quarter worth $357,000. Russell Investments Group Ltd. bought a new stake in shares of Penn Virginia during the third quarter valued at approximately $173,000. California Public Employees Retirement System bought a new stake in shares of Penn Virginia during the third quarter valued at approximately $203,000. State of Tennessee Treasury Department raised its holdings in shares of Penn Virginia by 120.2% during the third quarter. State of Tennessee Treasury Department now owns 12,254 shares of the company’s stock valued at $356,000 after buying an additional 6,689 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan raised its holdings in shares of Penn Virginia by 142.3% during the third quarter. Municipal Employees Retirement System of Michigan now owns 25,100 shares of the company’s stock valued at $729,000 after buying an additional 14,740 shares during the last quarter. Hedge funds and other institutional investors own 98.22% 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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