Penn Virginia (NASDAQ:PVAC) – Analysts at SunTrust Banks increased their Q3 2018 earnings estimates for shares of Penn Virginia in a research report issued to clients and investors on Wednesday, May 9th. SunTrust Banks analyst N. Dingmann now anticipates that the company will earn $2.12 per share for the quarter, up from their previous forecast of $1.87. SunTrust Banks currently has a “Average” rating and a $75.00 target price on the stock. SunTrust Banks also issued estimates for Penn Virginia’s Q4 2018 earnings at $2.61 EPS, FY2018 earnings at $7.87 EPS, FY2019 earnings at $11.02 EPS and FY2020 earnings at $12.17 EPS.
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Several other equities research analysts have also issued reports on PVAC. Zacks Investment Research raised shares of Penn Virginia from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research report on Tuesday, January 23rd. BidaskClub lowered shares of Penn Virginia from a “buy” rating to a “hold” rating in a research report on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $63.33.
Penn Virginia opened at $61.14 on Monday, MarketBeat Ratings reports. Penn Virginia has a 52-week low of $60.07 and a 52-week high of $61.35. The firm has a market capitalization of $949.87 million, a PE ratio of 21.10 and a beta of 1.06. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.67.
Penn Virginia (NASDAQ:PVAC) last released its quarterly earnings data on Wednesday, May 9th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.42. Penn Virginia had a net margin of 7.35% and a return on equity of 24.78%. The company had revenue of $77.21 million during the quarter, compared to analyst estimates of $69.60 million.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UBS Group AG grew its holdings in Penn Virginia by 77.6% during the 1st quarter. UBS Group AG now owns 2,854 shares of the company’s stock valued at $100,000 after purchasing an additional 1,247 shares in the last quarter. Nuveen Asset Management LLC acquired a new stake in Penn Virginia during the 1st quarter valued at $144,000. Alliancebernstein L.P. acquired a new stake in Penn Virginia during the 4th quarter valued at $233,000. SG Americas Securities LLC grew its holdings in Penn Virginia by 59.8% during the 1st quarter. SG Americas Securities LLC now owns 6,798 shares of the company’s stock valued at $238,000 after purchasing an additional 2,544 shares in the last quarter. Finally, MetLife Investment Advisors LLC acquired a new stake in Penn Virginia during the 4th quarter valued at $321,000. 89.43% of the stock is owned by institutional investors and hedge funds.
In related news, VP Tammy Hinkle sold 778 shares of the firm’s stock in a transaction on Friday, May 11th. The shares were sold at an average price of $61.46, for a total transaction of $47,815.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.41% of the stock is currently owned by company insiders.
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. The company also has operations in the Granite Wash in Oklahoma.