Penn Virginia (NASDAQ:PVAC) Issues Earnings Results

Penn Virginia (NASDAQ:PVAC) announced its quarterly earnings data on Thursday. The company reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.08, Fidelity Earnings reports. Penn Virginia had a net margin of 47.90% and a return on equity of 37.14%. The business had revenue of $119.30 million during the quarter, compared to analyst estimates of $121.18 million.

Shares of NASDAQ PVAC traded up $0.75 during midday trading on Friday, reaching $28.03. 298,500 shares of the stock traded hands, compared to its average volume of 222,296. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.64 and a quick ratio of 0.64. The company’s 50 day moving average is $27.41 and its 200 day moving average is $31.60. Penn Virginia has a one year low of $23.00 and a one year high of $66.83. The stock has a market capitalization of $417.26 million, a PE ratio of 3.05 and a beta of 1.37.

In other Penn Virginia news, CFO Steven A. Hartman sold 12,925 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $32.58, for a total value of $421,096.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Steven A. Hartman sold 18,586 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $32.98, for a total value of $612,966.28. Company insiders own 0.36% of the company’s stock.

A number of equities research analysts have issued reports on PVAC shares. Northland Securities reaffirmed a “buy” rating and set a $54.00 price objective on shares of Penn Virginia in a report on Friday. Zacks Investment Research lowered shares of Penn Virginia from a “hold” rating to a “sell” rating in a report on Tuesday, October 8th. BidaskClub raised shares of Penn Virginia from a “strong sell” rating to a “sell” rating in a report on Wednesday. Finally, ValuEngine downgraded Penn Virginia from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $60.50.

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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Earnings History for Penn Virginia (NASDAQ:PVAC)

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