Penn Virginia Corporation (NASDAQ:PVAC) Announces Earnings Results

Penn Virginia Corporation (NASDAQ:PVAC) released its earnings results on Tuesday, August 8th. The company reported $1.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.82, reports. Penn Virginia Corporation had a return on equity of 569.77% and a net margin of 869.79%. The company had revenue of $36.28 million during the quarter, compared to analysts’ expectations of $33.50 million.

Shares of Penn Virginia Corporation (NASDAQ PVAC) opened at 38.55 on Friday. The company’s 50 day moving average price is $37.78 and its 200-day moving average price is $42.81. Penn Virginia Corporation has a 52 week low of $15.00 and a 52 week high of $61.97. The firm has a market capitalization of $577.94 million and a PE ratio of 1.77.

A number of equities research analysts recently commented on PVAC shares. Capital One Financial Corporation cut Penn Virginia Corporation from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 7th. Northland Securities set a $60.00 price objective on Penn Virginia Corporation and gave the stock a “buy” rating in a research note on Monday, July 17th. Finally, Zacks Investment Research raised Penn Virginia Corporation from a “hold” rating to a “strong-buy” rating and set a $44.00 price objective for the company in a research note on Tuesday. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $51.00.

In other Penn Virginia Corporation news, insider Harry Quarls purchased 5,000 shares of the firm’s stock in a transaction on Thursday, August 17th. The stock was purchased at an average cost of $38.73 per share, for a total transaction of $193,650.00. Following the acquisition, the insider now owns 28,227 shares in the company, valued at approximately $1,093,231.71. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

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About Penn Virginia Corporation

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. The company primarily operates wells in the Eagle Ford Shale field in South Texas. It also has operations in the Granite Wash in Oklahoma.

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