Penn Virginia (NASDAQ:PVAC) Given “Buy” Rating at Northland Securities

Northland Securities reiterated their buy rating on shares of Penn Virginia (NASDAQ:PVAC) in a research note issued to investors on Thursday, AnalystRatings.com reports. They currently have a $60.00 price objective on the stock.

A number of other analysts have also commented on the company. ValuEngine lowered Penn Virginia from a sell rating to a strong sell rating in a research report on Friday, April 19th. TheStreet lowered Penn Virginia from a c- rating to a d+ rating in a report on Tuesday, April 16th. BidaskClub raised Penn Virginia from a strong sell rating to a sell rating in a report on Wednesday, July 24th. Capital One Financial raised Penn Virginia from an equal weight rating to an overweight rating in a report on Thursday, May 23rd. Finally, Zacks Investment Research lowered Penn Virginia from a hold rating to a strong sell rating in a report on Tuesday, July 16th. Three analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. Penn Virginia presently has a consensus rating of Hold and a consensus price target of $75.00.

Penn Virginia stock traded down $1.25 during midday trading on Thursday, reaching $31.52. The stock had a trading volume of 419,339 shares, compared to its average volume of 228,860. Penn Virginia has a 12 month low of $27.33 and a 12 month high of $89.62. The company has a market cap of $462.43 million, a P/E ratio of 3.43 and a beta of 1.33. The business has a fifty day moving average price of $30.89. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.60 and a quick ratio of 0.60.

Penn Virginia (NASDAQ:PVAC) last issued its 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 return on equity of 45.92% and a net margin of 37.49%. The business had revenue of $122.77 million during the quarter, compared to analyst estimates of $122.43 million. On average, equities analysts expect that Penn Virginia will post 8.89 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Prescott Group Capital Management L.L.C. increased its position in shares of Penn Virginia by 0.3% during the second quarter. Prescott Group Capital Management L.L.C. now owns 234,861 shares of the company’s stock valued at $7,206,000 after acquiring an additional 800 shares in the last quarter. Bank of Montreal Can increased its position in shares of Penn Virginia by 13.8% during the second quarter. Bank of Montreal Can now owns 8,684 shares of the company’s stock valued at $265,000 after acquiring an additional 1,053 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Penn Virginia by 22.7% during the second quarter. Wells Fargo & Company MN now owns 385,591 shares of the company’s stock valued at $11,830,000 after acquiring an additional 71,230 shares in the last quarter. GSA Capital Partners LLP increased its position in shares of Penn Virginia by 27.5% during the second quarter. GSA Capital Partners LLP now owns 8,426 shares of the company’s stock valued at $259,000 after acquiring an additional 1,819 shares in the last quarter. Finally, Caymus Capital Partners L.P. bought a new stake in shares of Penn Virginia during the second quarter valued at approximately $9,577,000. 97.95% of the stock is owned by hedge funds and other institutional investors.

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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