Penn Virginia Co. (PVAC) Expected to Post Earnings of $2.73 Per Share

Analysts expect Penn Virginia Co. (NASDAQ:PVAC) to post earnings per share of $2.73 for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Penn Virginia’s earnings. The highest EPS estimate is $3.24 and the lowest is $2.44. Penn Virginia reported earnings per share of $0.57 during the same quarter last year, which suggests a positive year-over-year growth rate of 378.9%. The company is scheduled to issue its next quarterly earnings report on Wednesday, November 14th.

On average, analysts expect that Penn Virginia will report full year earnings of $10.37 per share for the current fiscal year, with EPS estimates ranging from $9.70 to $11.58. For the next financial year, analysts forecast that the company will report earnings of $15.95 per share, with EPS estimates ranging from $13.56 to $17.30. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Penn Virginia.

Penn Virginia (NASDAQ:PVAC) last posted its quarterly earnings results on Wednesday, August 8th. The company reported $2.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.44 by $0.02. Penn Virginia had a positive return on equity of 36.88% and a negative net margin of 3.23%. The company had revenue of $111.58 million during the quarter, compared to the consensus estimate of $105.90 million.

A number of research analysts recently weighed in on the company. BidaskClub raised Penn Virginia from a “hold” rating to a “buy” rating in a research note on Friday, August 3rd. Zacks Investment Research raised Penn Virginia from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a research note on Tuesday, July 3rd. Finally, SunTrust Banks raised their price objective on Penn Virginia from $100.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, June 22nd. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Penn Virginia presently has a consensus rating of “Buy” and an average target price of $94.75.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PVAC. BlackRock Inc. grew its stake in shares of Penn Virginia by 111.0% during the second quarter. BlackRock Inc. now owns 1,959,412 shares of the company’s stock worth $166,336,000 after purchasing an additional 1,030,640 shares during the period. FMR LLC purchased a new position in Penn Virginia in the second quarter worth $49,293,000. Dimensional Fund Advisors LP grew its position in Penn Virginia by 52.8% in the second quarter. Dimensional Fund Advisors LP now owns 516,471 shares of the company’s stock worth $43,843,000 after acquiring an additional 178,430 shares in the last quarter. Allianz Asset Management GmbH grew its position in Penn Virginia by 45.8% in the first quarter. Allianz Asset Management GmbH now owns 282,421 shares of the company’s stock worth $9,896,000 after acquiring an additional 88,652 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Penn Virginia by 4.8% in the first quarter. JPMorgan Chase & Co. now owns 221,393 shares of the company’s stock worth $7,757,000 after acquiring an additional 10,217 shares in the last quarter. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

Shares of PVAC stock traded up $1.19 during trading on Thursday, reaching $75.54. The company had a trading volume of 147,400 shares, compared to its average volume of 221,231. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.46 and a current ratio of 0.46. 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 $1.21 billion, a price-to-earnings ratio of 26.23 and a beta of 1.43.

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.

Read More: What is a Tariff?

Get a free copy of the Zacks research report on Penn Virginia (PVAC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.

Leave a Reply