Penn Virginia Co. (NASDAQ:PVAC) – Capital One Financial raised their FY2017 earnings estimates for Penn Virginia in a research note issued on Tuesday. Capital One Financial analyst R. Tullis now anticipates that the company will post earnings per share of $2.85 for the year, up from their prior forecast of $2.81. Capital One Financial also issued estimates for Penn Virginia’s FY2018 earnings at $9.52 EPS.
PVAC has been the subject of a number of other research reports. SunTrust Banks began coverage on shares of Penn Virginia in a research report on Wednesday, November 29th. They issued a “buy” rating and a $50.00 target price for the company. BidaskClub raised shares of Penn Virginia from a “strong sell” rating to a “sell” rating in a research report on Wednesday, December 20th. Northland Securities set a $57.00 target price on shares of Penn Virginia and gave the company a “buy” rating in a research report on Monday, December 11th. Finally, Zacks Investment Research raised shares of Penn Virginia from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Tuesday, January 23rd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Penn Virginia has a consensus rating of “Buy” and a consensus target price of $54.75.
Penn Virginia (NASDAQ:PVAC) last announced its earnings results on Wednesday, November 8th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.04. Penn Virginia had a net margin of 30.22% and a return on equity of 16.76%.
In other Penn Virginia news, insider Harry Quarls bought 5,000 shares of Penn Virginia stock in a transaction dated Monday, November 13th. The stock was bought at an average price of $38.72 per share, with a total value of $193,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN lifted its position in Penn Virginia by 30.2% during the fourth quarter. Wells Fargo & Company MN now owns 20,996 shares of the company’s stock worth $821,000 after purchasing an additional 4,871 shares during the period. Schwab Charles Investment Management Inc. lifted its position in Penn Virginia by 23.3% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 65,092 shares of the company’s stock worth $2,546,000 after purchasing an additional 12,292 shares during the period. Highbridge Capital Management LLC bought a new stake in Penn Virginia during the third quarter worth about $414,000. Allianz Asset Management GmbH bought a new stake in Penn Virginia during the third quarter worth about $424,000. Finally, Dimensional Fund Advisors LP lifted its position in Penn Virginia by 257.7% during the third quarter. Dimensional Fund Advisors LP now owns 91,389 shares of the company’s stock worth $3,654,000 after purchasing an additional 65,841 shares during the period. 66.26% of the stock is owned by institutional investors and hedge funds.
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. 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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