Penn Virginia (PVAC) Releases Quarterly Earnings Results, Misses Estimates By $0.08 EPS

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Penn Virginia (NASDAQ:PVAC) announced its quarterly earnings data on Thursday. The company reported $2.72 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.80 by ($0.08), MarketWatch Earnings reports. The company had revenue of $127.19 million for the quarter, compared to analysts’ expectations of $121.30 million. Penn Virginia had a positive return on equity of 36.88% and a negative net margin of 3.23%.

PVAC traded up $0.85 on Friday, reaching $64.75. 341,531 shares of the company’s stock were exchanged, compared to its average volume of 336,258. The company has a market cap of $1.02 billion, a PE ratio of 12.13 and a beta of 1.74. Penn Virginia has a twelve month low of $32.49 and a twelve month high of $96.13. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.46 and a current ratio of 0.46.

Several research analysts have recently weighed in on the stock. BidaskClub lowered shares of Penn Virginia from a “buy” rating to a “hold” rating in a report on Saturday, July 28th. Zacks Investment Research upgraded shares of Penn Virginia from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a report on Saturday, August 11th. Finally, ValuEngine lowered shares of Penn Virginia from a “hold” rating to a “sell” rating in a report on Thursday, November 1st. Two analysts have rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Penn Virginia has an average rating of “Buy” and a consensus target price of $94.75.

A number of institutional investors and hedge funds have recently bought and sold shares of PVAC. UBS Group AG increased its position in Penn Virginia by 77.6% during the 1st quarter. UBS Group AG now owns 2,854 shares of the company’s stock worth $100,000 after purchasing an additional 1,247 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Penn Virginia by 869.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,938 shares of the company’s stock worth $165,000 after purchasing an additional 1,738 shares in the last quarter. California Public Employees Retirement System acquired a new stake in Penn Virginia during the 2nd quarter worth approximately $204,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Penn Virginia during the 2nd quarter worth approximately $243,000. Finally, Teachers Retirement System of The State of Kentucky increased its position in Penn Virginia by 244.4% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 3,100 shares of the company’s stock worth $250,000 after purchasing an additional 2,200 shares in the last quarter. 97.57% of the stock is owned by hedge funds and other institutional investors.

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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.

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Earnings History for Penn Virginia (NASDAQ:PVAC)

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