FY2017 Earnings Forecast for Penn Virginia Co. (PVAC) Issued By SunTrust Banks

Penn Virginia Co. (NASDAQ:PVAC) – Research analysts at SunTrust Banks upped their FY2017 earnings estimates for Penn Virginia in a report released on Tuesday. SunTrust Banks analyst N. Dingmann now forecasts that the company will earn $2.56 per share for the year, up from their prior estimate of $2.27. SunTrust Banks has a “Buy” rating and a $50.00 price target on the stock. SunTrust Banks also issued estimates for Penn Virginia’s FY2018 earnings at $4.42 EPS and FY2020 earnings at $11.61 EPS.

Other equities research analysts have also recently issued reports about the stock. Northland Securities set a $57.00 price target on shares of Penn Virginia and gave the company a “buy” rating in a research report on Monday, December 11th. Zacks Investment Research cut shares of Penn Virginia from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 7th. Finally, BidaskClub upgraded shares of Penn Virginia from a “sell” rating to a “hold” rating in a report on Saturday, December 30th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $50.00.

Shares of Penn Virginia (NASDAQ PVAC) opened at $43.30 on Wednesday. Penn Virginia has a 12-month low of $31.00 and a 12-month high of $55.00. The firm has a market cap of $600.92 and a PE ratio of 14.41. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.85 and a current ratio of 0.85.

In other news, insider Harry Quarls purchased 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was bought at an average price of $38.72 per share, for a total transaction of $193,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Several large investors have recently modified their holdings of the company. Highbridge Capital Management LLC purchased a new stake in shares of Penn Virginia during the 3rd quarter worth approximately $414,000. Allianz Asset Management GmbH acquired a new position in shares of Penn Virginia in the 3rd quarter valued at $424,000. Dimensional Fund Advisors LP increased its holdings in shares of Penn Virginia by 257.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 91,389 shares of the company’s stock valued at $3,654,000 after acquiring an additional 65,841 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in shares of Penn Virginia by 50.1% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 52,800 shares of the company’s stock valued at $2,111,000 after acquiring an additional 17,634 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in shares of Penn Virginia by 53.0% in the 3rd quarter. Wells Fargo & Company MN now owns 16,125 shares of the company’s stock valued at $644,000 after acquiring an additional 5,588 shares during the period. Institutional investors and hedge funds own 66.18% of the company’s stock.

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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. 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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