Wall Street analysts forecast that Penn Virginia Co. (NASDAQ:PVAC) will post $1.86 earnings per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Penn Virginia’s earnings, with the highest EPS estimate coming in at $2.01 and the lowest estimate coming in at $1.59. Penn Virginia reported earnings of $2.72 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 31.6%. The business is expected to announce its next earnings results on Thursday, November 14th.
On average, analysts expect that Penn Virginia will report full-year earnings of $8.06 per share for the current financial year, with EPS estimates ranging from $7.63 to $8.27. For the next financial year, analysts anticipate that the firm will report earnings of $7.93 per share, with EPS estimates ranging from $7.20 to $8.62. Zacks’ earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Penn Virginia.
Penn Virginia (NASDAQ:PVAC) last issued its earnings results on Wednesday, August 7th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.01. The business had revenue of $122.77 million during the quarter, compared to the consensus estimate of $122.43 million. Penn Virginia had a return on equity of 37.14% and a net margin of 47.90%.
PVAC has been the subject of a number of analyst reports. Northland Securities reissued a “buy” rating and set a $60.00 target price on shares of Penn Virginia in a research note on Thursday, August 8th. Zacks Investment Research downgraded Penn Virginia from a “hold” rating to a “sell” rating in a research note on Tuesday, October 8th. ValuEngine raised Penn Virginia from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, BidaskClub raised Penn Virginia from a “strong sell” rating to a “sell” rating in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. Penn Virginia has a consensus rating of “Hold” and an average price target of $63.50.
In related news, CFO Steven A. Hartman sold 18,586 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $32.98, for a total value of $612,966.28. Also, CFO Steven A. Hartman sold 12,925 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $32.58, for a total value of $421,096.50. The disclosure for this sale can be found here. Corporate insiders own 0.36% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PVAC. Nisa Investment Advisors LLC purchased a new position in Penn Virginia during the third quarter worth $87,000. State of Alaska Department of Revenue increased its position in Penn Virginia by 125.8% during the third quarter. State of Alaska Department of Revenue now owns 10,332 shares of the company’s stock worth $300,000 after buying an additional 5,757 shares in the last quarter. Natixis acquired a new stake in shares of Penn Virginia during the second quarter worth $1,028,000. Oaktree Capital Management LP acquired a new stake in shares of Penn Virginia during the second quarter worth $7,639,000. Finally, Royal Bank of Canada boosted its holdings in shares of Penn Virginia by 12.6% during the second quarter. Royal Bank of Canada now owns 3,734 shares of the company’s stock worth $114,000 after purchasing an additional 417 shares during the last quarter. 98.22% of the stock is owned by hedge funds and other institutional investors.
Shares of PVAC stock traded down $0.34 during trading hours on Monday, reaching $26.88. 2,967 shares of the company’s stock were exchanged, compared to its average volume of 223,972. The company has a market cap of $397.62 million, a P/E ratio of 2.98 and a beta of 1.41. The company’s 50 day moving average is $29.46 and its two-hundred day moving average is $33.49. Penn Virginia has a 1 year low of $24.59 and a 1 year high of $77.16. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.64 and a quick ratio of 0.64.
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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