Penn Virginia (NASDAQ:PVAC) Rating Lowered to Strong Sell at ValuEngine

Penn Virginia (NASDAQ:PVAC) was downgraded by ValuEngine from a “sell” rating to a “strong sell” rating in a report issued on Wednesday, ValuEngine reports.

PVAC has been the topic of a number of other research reports. BidaskClub cut shares of Penn Virginia from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Zacks Investment Research cut shares of Penn Virginia from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, Northland Securities cut shares of Penn Virginia from an “outperform” rating to a “market perform” rating in a research note on Friday, March 13th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $45.67.

Shares of NASDAQ:PVAC opened at $3.64 on Wednesday. The firm’s 50 day moving average price is $11.86 and its 200-day moving average price is $23.60. Penn Virginia has a twelve month low of $0.99 and a twelve month high of $48.36. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $41.68 million, a PE ratio of 0.78 and a beta of 1.72.

Penn Virginia (NASDAQ:PVAC) last issued its quarterly earnings data on Thursday, February 27th. The company reported $2.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.92 by $0.83. Penn Virginia had a net margin of 15.00% and a return on equity of 28.43%. The firm had revenue of $123.20 million for the quarter, compared to analysts’ expectations of $121.39 million. Analysts expect that Penn Virginia will post 6.82 earnings per share for the current fiscal year.

In other Penn Virginia news, major shareholder Strategic Value Partners, Llc sold 100,617 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $20.55, for a total transaction of $2,067,679.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.36% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC grew its holdings in Penn Virginia by 9.3% during the 4th quarter. Barclays PLC now owns 30,728 shares of the company’s stock valued at $933,000 after buying an additional 2,616 shares in the last quarter. 6 Meridian grew its holdings in Penn Virginia by 22.9% during the 4th quarter. 6 Meridian now owns 8,794 shares of the company’s stock valued at $267,000 after buying an additional 1,637 shares in the last quarter. Algert Global LLC grew its holdings in Penn Virginia by 260.8% during the 4th quarter. Algert Global LLC now owns 31,570 shares of the company’s stock valued at $958,000 after buying an additional 22,820 shares in the last quarter. Zebra Capital Management LLC grew its holdings in Penn Virginia by 36.0% during the 3rd quarter. Zebra Capital Management LLC now owns 12,014 shares of the company’s stock valued at $350,000 after buying an additional 3,178 shares in the last quarter. Finally, CFM Wealth Partners LLC purchased a new stake in Penn Virginia during the 4th quarter valued at approximately $26,000.

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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