Penn Virginia (PVAC) Cut to “D+” at TheStreet

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TheStreet lowered shares of Penn Virginia (NASDAQ:PVAC) from a c- rating to a d+ rating in a research report report published on Tuesday morning, TheStreetRatingsTable reports.

Several other brokerages also recently weighed in on PVAC. BidaskClub raised shares of Penn Virginia from a sell rating to a hold rating in a research note on Thursday, March 14th. ValuEngine raised shares of Penn Virginia from a strong sell rating to a sell rating in a research note on Wednesday, January 2nd. Capital One Financial downgraded shares of Penn Virginia from an overweight rating to an equal weight rating in a research note on Wednesday, January 9th. Zacks Investment Research downgraded shares of Penn Virginia from a hold rating to a sell rating in a research note on Wednesday, December 19th. Finally, Northland Securities raised shares of Penn Virginia from a market perform rating to an outperform rating in a research note on Thursday, March 21st. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $105.33.

Shares of PVAC opened at $41.19 on Tuesday. Penn Virginia has a twelve month low of $40.23 and a twelve month high of $96.13. The firm has a market capitalization of $630.04 million, a PE ratio of 4.48 and a beta of 0.94. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.14.

Penn Virginia (NASDAQ:PVAC) last announced its earnings results on Wednesday, February 27th. The company reported $2.56 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.80 by ($1.24). Penn Virginia had a net margin of 50.99% and a return on equity of 48.83%. The firm had revenue of $124.86 million during the quarter, compared to analysts’ expectations of $143.60 million. On average, equities research analysts predict that Penn Virginia will post 10.02 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of PVAC. BlackRock Inc. increased its stake in Penn Virginia by 1.7% in the 3rd quarter. BlackRock Inc. now owns 1,992,345 shares of the company’s stock worth $160,464,000 after buying an additional 32,933 shares during the period. Credit Suisse AG increased its stake in Penn Virginia by 48.5% in the 3rd quarter. Credit Suisse AG now owns 28,876 shares of the company’s stock worth $2,326,000 after buying an additional 9,427 shares during the period. Dimensional Fund Advisors LP increased its stake in Penn Virginia by 6.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 549,598 shares of the company’s stock worth $44,264,000 after buying an additional 33,127 shares during the period. United Services Automobile Association purchased a new position in Penn Virginia in the 3rd quarter worth about $222,000. Finally, Riverhead Capital Management LLC purchased a new position in Penn Virginia in the 3rd quarter worth about $113,000. 99.03% of the stock is currently owned by institutional investors.

Penn Virginia Company Profile

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.

See Also: What is diluted earnings per share (Diluted EPS)?

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