Penn Virginia (PVAC) Downgraded by Zacks Investment Research

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Penn Virginia (NASDAQ:PVAC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

According to Zacks, “Penn Virginia Corporation is an oil and gas company. It engaged in exploration, development and production of oil, NGLs and natural gas. The company operates primarily in Eagle Ford Shale in South Texas and Oklahoma. Penn Virginia Corporation is headquatered in Houston, Texas. “

Other research analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Penn Virginia from a “hold” rating to a “sell” rating in a research note on Saturday, October 27th. ValuEngine downgraded shares of Penn Virginia from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. Finally, Northland Securities downgraded shares of Penn Virginia from an “outperform” rating to a “market perform” rating in a research note on Monday, December 10th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $94.75.

NASDAQ PVAC opened at $54.96 on Wednesday. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 1.92. Penn Virginia has a one year low of $32.49 and a one year high of $96.13. The company has a market capitalization of $854.53 million, a PE ratio of 19.08 and a beta of 1.62.

Penn Virginia (NASDAQ:PVAC) last posted its quarterly earnings data on Thursday, November 8th. The company reported $2.72 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.80 by ($0.08). Penn Virginia had a net margin of 3.58% and a return on equity of 50.64%. The business had revenue of $127.19 million during the quarter, compared to analysts’ expectations of $121.30 million. Equities research analysts anticipate that Penn Virginia will post 11.4 earnings per share for the current year.

In related news, major shareholder Mangrove Partners Master Fund, acquired 67,500 shares of Penn Virginia stock in a transaction dated Tuesday, November 27th. The stock was acquired at an average price of $55.95 per share, for a total transaction of $3,776,625.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.41% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the company. Vanguard Group Inc lifted its position in shares of Penn Virginia by 11.1% during the 3rd quarter. Vanguard Group Inc now owns 801,900 shares of the company’s stock worth $64,585,000 after buying an additional 79,988 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Penn Virginia by 11.1% in the 3rd quarter. Vanguard Group Inc. now owns 801,900 shares of the company’s stock valued at $64,585,000 after acquiring an additional 79,988 shares during the period. Morgan Stanley increased its holdings in shares of Penn Virginia by 278.5% in the 3rd quarter. Morgan Stanley now owns 148,520 shares of the company’s stock valued at $11,961,000 after acquiring an additional 109,277 shares during the period. Legal & General Group Plc increased its holdings in shares of Penn Virginia by 11.7% in the 3rd quarter. Legal & General Group Plc now owns 28,524 shares of the company’s stock valued at $2,284,000 after acquiring an additional 2,985 shares during the period. Finally, Rehmann Capital Advisory Group increased its holdings in shares of Penn Virginia by 7,953.8% in the 3rd quarter. Rehmann Capital Advisory Group now owns 26,336 shares of the company’s stock valued at $327,000 after acquiring an additional 26,009 shares during the period. Institutional investors and hedge funds own 99.88% of the company’s stock.

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. The company also has operations in the Granite Wash in Oklahoma.

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