Capital One Financial Comments on Penn Virginia Co.’s Q3 2019 Earnings (NASDAQ:PVAC)

Share on StockTwits

Penn Virginia Co. (NASDAQ:PVAC) – Equities research analysts at Capital One Financial upped their Q3 2019 earnings per share estimates for shares of Penn Virginia in a research report issued on Monday, July 8th. Capital One Financial analyst R. Tullis now anticipates that the company will post earnings per share of $2.20 for the quarter, up from their prior estimate of $2.18. Capital One Financial has a “Overweight” rating on the stock. Capital One Financial also issued estimates for Penn Virginia’s FY2019 earnings at $8.87 EPS.

Penn Virginia (NASDAQ:PVAC) last released its earnings results on Thursday, May 9th. The company reported $2.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.84 by $0.41. Penn Virginia had a return on equity of 45.92% and a net margin of 37.49%. The firm had revenue of $105.23 million during the quarter, compared to analyst estimates of $107.56 million.

Other equities research analysts also recently issued research reports about the company. ValuEngine raised Alleghany from a “hold” rating to a “buy” rating in a research report on Friday, April 19th. Northland Securities reaffirmed a “hold” rating and issued a $8.00 target price on shares of Evolution Petroleum in a research report on Thursday, March 21st. TheStreet raised Transcontinental Realty Investors from a “d+” rating to a “c+” rating in a research report on Tuesday, April 16th. Imperial Capital reaffirmed an “outperform” rating and issued a $67.00 target price (down previously from $70.00) on shares of Penn Virginia in a research report on Monday, May 13th. Finally, BidaskClub downgraded Inovio Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 1st. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $82.50.

PVAC stock opened at $30.57 on Wednesday. The firm’s 50-day moving average price is $30.41. Penn Virginia has a 12-month low of $27.33 and a 12-month high of $89.97. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.60 and a current ratio of 0.60. The stock has a market capitalization of $439.02 million, a P/E ratio of 3.33 and a beta of 1.32.

Hedge funds and other institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted its stake in shares of Penn Virginia by 429.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 678 shares of the company’s stock worth $37,000 after acquiring an additional 550 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in Penn Virginia by 51,600.0% during the first quarter. BNP Paribas Arbitrage SA now owns 2,585 shares of the company’s stock worth $114,000 after purchasing an additional 2,580 shares during the period. Pearl River Capital LLC bought a new position in Penn Virginia during the first quarter worth about $154,000. NumerixS Investment Technologies Inc bought a new position in Penn Virginia during the first quarter worth about $156,000. Finally, Municipal Employees Retirement System of Michigan bought a new position in Penn Virginia during the fourth quarter worth about $208,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

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. 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.

See Also: Is a Roth IRA right for you?

Earnings History and Estimates for Penn Virginia (NASDAQ:PVAC)

Receive News & Ratings for Penn Virginia Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Penn Virginia and related companies with MarketBeat.com's FREE daily email newsletter.