Capital One Financial Weighs in on Penn Virginia Co.’s FY2019 Earnings (NASDAQ:PVAC)

Penn Virginia Co. (NASDAQ:PVAC) – Equities research analysts at Capital One Financial raised their FY2019 EPS estimates for shares of Penn Virginia in a report released on Friday, August 9th. Capital One Financial analyst R. Tullis now expects that the company will post earnings per share of $8.73 for the year, up from their prior forecast of $8.57. Capital One Financial currently has a “Overweight” rating on the stock. Capital One Financial also issued estimates for Penn Virginia’s Q4 2019 earnings at $2.28 EPS and FY2020 earnings at $8.74 EPS.

Several other brokerages have also recently issued reports on PVAC. TheStreet cut Penn Virginia from a “c-” rating to a “d+” rating in a research report on Tuesday, April 16th. ValuEngine cut Penn Virginia from a “sell” rating to a “strong sell” rating in a research report on Friday, April 19th. Northland Securities reaffirmed a “buy” rating and set a $60.00 target price on shares of Penn Virginia in a research report on Thursday, August 8th. Imperial Capital reaffirmed an “outperform” rating and set a $67.00 target price (down previously from $70.00) on shares of Penn Virginia in a research report on Monday, May 13th. Finally, BidaskClub raised Penn Virginia from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 24th. Three investment analysts have rated the stock with a sell rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $75.00.

Shares of NASDAQ PVAC opened at $31.25 on Monday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.64 and a quick ratio of 0.60. The company has a market cap of $476.18 million, a PE ratio of 3.40 and a beta of 1.33. The firm’s fifty day moving average is $30.99. Penn Virginia has a 12-month low of $27.33 and a 12-month high of $89.62.

Penn Virginia (NASDAQ:PVAC) last announced its earnings results on Wednesday, August 7th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.01. The business had revenue of $122.77 million for the quarter, compared to analysts’ expectations of $122.43 million. Penn Virginia had a return on equity of 37.14% and a net margin of 47.90%.

Several institutional investors have recently bought and sold shares of PVAC. Tyers Asset Management LLC acquired a new stake in shares of Penn Virginia in the 2nd quarter worth $31,000. Riverhead Capital Management LLC acquired a new stake in shares of Penn Virginia in the 2nd quarter worth $34,000. Elkfork Partners LLC acquired a new stake in shares of Penn Virginia in the 2nd quarter worth $43,000. Meadow Creek Investment Management LLC acquired a new stake in shares of Penn Virginia in the 2nd quarter worth $54,000. Finally, Glen Harbor Capital Management LLC acquired a new stake in shares of Penn Virginia in the 2nd quarter worth $66,000. 99.23% 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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Earnings History and Estimates for Penn Virginia (NASDAQ:PVAC)

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