Penn Virginia Co. to Post Q4 2017 Earnings of $0.71 Per Share, SunTrust Banks Forecasts (PVAC)

Penn Virginia Co. (NASDAQ:PVAC) – Investment analysts at SunTrust Banks lifted their Q4 2017 earnings per share (EPS) estimates for shares of Penn Virginia in a research report issued to clients and investors on Tuesday. SunTrust Banks analyst N. Dingmann now expects that the company will post earnings per share of $0.71 for the quarter, up from their previous estimate of $0.42. SunTrust Banks currently has a “Buy” rating and a $50.00 target price on the stock. SunTrust Banks also issued estimates for Penn Virginia’s FY2019 earnings at $8.01 EPS.

Other analysts have also issued reports about the company. Zacks Investment Research lowered Penn Virginia from a “hold” rating to a “strong sell” rating in a research report on Thursday. Northland Securities set a $63.00 target price on Penn Virginia and gave the company a “buy” rating in a research report on Wednesday. Finally, BidaskClub raised Penn Virginia from a “sell” rating to a “hold” rating in a research report on Saturday, December 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. Penn Virginia has an average rating of “Hold” and a consensus price target of $51.50.

Shares of Penn Virginia (PVAC) opened at $44.31 on Thursday. Penn Virginia has a 12-month low of $31.00 and a 12-month high of $54.00. The company has a market capitalization of $649.68 and a PE ratio of 15.94. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.85 and a quick ratio of 0.85.

In other news, insider Harry Quarls bought 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was acquired at an average cost of $38.72 per share, with a total value of $193,600.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link.

A number of institutional investors and hedge funds have recently modified their holdings of PVAC. Legal & General Group Plc bought a new stake in Penn Virginia during the 2nd quarter worth approximately $104,000. SG Americas Securities LLC bought a new stake in Penn Virginia during the 3rd quarter worth approximately $181,000. Voya Investment Management LLC bought a new stake in Penn Virginia during the 2nd quarter worth approximately $252,000. Nationwide Fund Advisors bought a new stake in Penn Virginia during the 2nd quarter worth approximately $297,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Penn Virginia during the 3rd quarter worth approximately $381,000. 66.18% of the stock is owned by hedge funds and other institutional investors.

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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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