Equities research analysts predict that Penn Virginia Co. (NASDAQ:PVAC) will announce $119.04 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Penn Virginia’s earnings, with the lowest sales estimate coming in at $113.80 million and the highest estimate coming in at $124.27 million. Penn Virginia posted sales of $124.86 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 4.7%. The firm is expected to issue its next earnings results on Wednesday, February 26th.
According to Zacks, analysts expect that Penn Virginia will report full year sales of $466.34 million for the current financial year, with estimates ranging from $461.10 million to $471.57 million. For the next year, analysts anticipate that the firm will post sales of $493.91 million, with estimates ranging from $456.50 million to $531.32 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Penn Virginia.
Penn Virginia (NASDAQ:PVAC) last released its quarterly earnings results on Thursday, November 7th. The company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.08. Penn Virginia had a return on equity of 29.06% and a net margin of 56.77%. The firm had revenue of $119.30 million for the quarter, compared to analysts’ expectations of $121.18 million.
Several equities research analysts have recently commented on PVAC shares. BidaskClub lowered Penn Virginia from a “sell” rating to a “strong sell” rating in a research note on Saturday, November 16th. ValuEngine downgraded Penn Virginia from a “buy” rating to a “hold” rating in a research report on Tuesday. Northland Securities reissued a “buy” rating and set a $54.00 price target on shares of Penn Virginia in a report on Friday, November 8th. Finally, Zacks Investment Research upgraded Penn Virginia from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $60.50.
Shares of NASDAQ:PVAC traded up $1.24 during trading on Friday, hitting $25.59. The company’s stock had a trading volume of 11,270 shares, compared to its average volume of 179,635. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $365.22 million, a price-to-earnings ratio of 2.78 and a beta of 1.36. The company has a 50-day moving average of $25.85 and a 200-day moving average of $29.53. Penn Virginia has a 12 month low of $23.00 and a 12 month high of $62.92.
In other news, CFO Steven A. Hartman sold 18,586 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $32.98, for a total value of $612,966.28. Corporate insiders own 0.36% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PVAC. Tyers Asset Management LLC purchased a new position in shares of Penn Virginia in the second quarter worth $31,000. Riverhead Capital Management LLC bought a new position in shares of Penn Virginia during the 2nd quarter valued at about $34,000. Elkfork Partners LLC bought a new position in shares of Penn Virginia during the 2nd quarter valued at about $43,000. Meadow Creek Investment Management LLC purchased a new position in shares of Penn Virginia during the second quarter valued at about $54,000. Finally, Glen Harbor Capital Management LLC bought a new stake in shares of Penn Virginia in the second quarter worth about $66,000. 98.22% 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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