Brokerages Set Penn Virginia Co. (NASDAQ:PVAC) PT at $27.00

Shares of Penn Virginia Co. (NASDAQ:PVAC) have been assigned an average rating of “Buy” from the six analysts that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $27.00.

PVAC has been the topic of several research reports. Zacks Investment Research lowered Penn Virginia from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 1st. Capital One Financial reaffirmed an “overweight” rating on shares of Penn Virginia in a report on Wednesday, May 26th. Royal Bank of Canada reaffirmed a “hold” rating and set a $28.00 price objective on shares of Penn Virginia in a report on Sunday, July 11th. Truist Securities lifted their price objective on Penn Virginia from $25.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, July 1st. Finally, Truist boosted their target price on Penn Virginia from $25.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, July 1st. They noted that the move was a valuation call.

Shares of Penn Virginia stock traded up $0.10 during trading on Monday, reaching $21.33. The company’s stock had a trading volume of 502,100 shares, compared to its average volume of 258,374. Penn Virginia has a one year low of $6.36 and a one year high of $26.17. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a market cap of $807.55 million, a price-to-earnings ratio of -0.83 and a beta of 3.54. The business’s fifty day moving average price is $18.64 and its 200-day moving average price is $18.22.

Penn Virginia (NASDAQ:PVAC) last issued its quarterly earnings results on Monday, August 2nd. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.43. Penn Virginia had a positive return on equity of 27.25% and a negative net margin of 111.38%. The firm had revenue of $124.70 million for the quarter, compared to analyst estimates of $105.20 million. Sell-side analysts anticipate that Penn Virginia will post 4.02 EPS for the current year.

Several institutional investors have recently modified their holdings of the business. Geneos Wealth Management Inc. increased its position in shares of Penn Virginia by 47.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,707 shares of the company’s stock valued at $36,000 after buying an additional 873 shares in the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of Penn Virginia by 48.6% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,289 shares of the company’s stock valued at $57,000 after buying an additional 1,403 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Penn Virginia by 103.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,389 shares of the company’s stock valued at $99,000 after buying an additional 3,761 shares in the last quarter. Metropolitan Life Insurance Co NY bought a new stake in shares of Penn Virginia in the 2nd quarter valued at $109,000. Finally, American International Group Inc. increased its position in shares of Penn Virginia by 9.1% in the 1st quarter. American International Group Inc. now owns 10,169 shares of the company’s stock valued at $136,000 after buying an additional 847 shares in the last quarter. Institutional investors own 30.91% of the company’s stock.

About Penn Virginia

Penn Virginia Corp. is an independent oil and gas company, which engages in the exploration, development, and production of crude oil, natural gas liquids, and natural gas. It focuses on its Eagle Ford Shale project located in South Texas. The company was founded in 1882 and is headquartered in Houston, TX.

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Analyst Recommendations for Penn Virginia (NASDAQ:PVAC)

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