Analysts forecast that Penn Virginia Co. (NASDAQ:PVAC) will announce sales of $124.03 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Penn Virginia’s earnings, with the highest sales estimate coming in at $124.30 million and the lowest estimate coming in at $123.76 million. Penn Virginia posted sales of $111.58 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 11.2%. The firm is expected to issue its next earnings report on Tuesday, August 6th.
On average, analysts expect that Penn Virginia will report full year sales of $497.78 million for the current financial year, with estimates ranging from $488.80 million to $506.76 million. For the next financial year, analysts expect that the firm will report sales of $549.11 million, with estimates ranging from $529.70 million to $568.52 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Penn Virginia.
Penn Virginia (NASDAQ:PVAC) last posted its quarterly earnings results on Thursday, May 9th. The company reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.41. The company had revenue of $105.23 million for the quarter, compared to analyst estimates of $107.56 million. Penn Virginia had a return on equity of 45.92% and a net margin of 37.49%.
PVAC has been the topic of a number of analyst reports. BidaskClub lowered Inovio Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 1st. Zacks Investment Research raised Golub Capital BDC from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Tuesday, July 16th. Imperial Capital reissued 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. Capital One Financial raised Cimarex Energy from an “equal weight” rating to an “overweight” rating in a research report on Thursday, May 23rd. Finally, ValuEngine raised Alleghany from a “hold” rating to a “buy” rating in a research report on Friday, April 19th. Three investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $82.50.
PVAC stock traded up $1.17 during mid-day trading on Wednesday, reaching $31.22. The company had a trading volume of 262,768 shares, compared to its average volume of 218,608. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.60 and a quick ratio of 0.60. The company has a market cap of $454.06 million, a P/E ratio of 3.40 and a beta of 1.32. The company has a fifty day moving average of $30.02. Penn Virginia has a fifty-two week low of $27.33 and a fifty-two week high of $89.85.
Large investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. grew its stake in Penn Virginia by 429.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 678 shares of the company’s stock worth $37,000 after buying an additional 550 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in Penn Virginia by 51,600.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,585 shares of the company’s stock worth $114,000 after buying an additional 2,580 shares during the last quarter. NumerixS Investment Technologies Inc purchased a new position in Penn Virginia during the 1st quarter worth approximately $156,000. Pearl River Capital LLC purchased a new position in Penn Virginia during the 1st quarter worth approximately $154,000. Finally, Municipal Employees Retirement System of Michigan purchased a new position in Penn Virginia during the 4th quarter worth approximately $208,000. Hedge funds and other institutional investors own 89.48% of the company’s stock.
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.
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