Penn Virginia Co. (PVAC) Expected to Earn FY2017 Earnings of $2.85 Per Share
Penn Virginia Co. (NASDAQ:PVAC) – Equities researchers at Capital One Financial raised their FY2017 earnings per share estimates for Penn Virginia in a note issued to investors on Tuesday. Capital One Financial analyst R. Tullis now anticipates that the company will earn $2.85 per share for the year, up from their previous forecast of $2.81. Capital One Financial also issued estimates for Penn Virginia’s FY2018 earnings at $9.52 EPS.
A number of other equities analysts have also commented on the stock. BidaskClub raised shares of Penn Virginia from a “sell” rating to a “hold” rating in a report on Saturday, December 30th. Northland Securities set a $57.00 price target on shares of Penn Virginia and gave the stock a “buy” rating in a report on Monday, December 11th. Zacks Investment Research lowered shares of Penn Virginia from a “hold” rating to a “sell” rating in a report on Wednesday, November 22nd. Finally, SunTrust Banks started coverage on shares of Penn Virginia in a report on Wednesday, November 29th. They issued a “buy” rating and a $50.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. Penn Virginia presently has a consensus rating of “Hold” and a consensus target price of $54.75.
Penn Virginia (NASDAQ:PVAC) last issued its quarterly earnings results on Wednesday, November 8th. The company reported $0.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.04. Penn Virginia had a net margin of 30.22% and a return on equity of 16.76%.
In other Penn Virginia news, insider Harry Quarls bought 5,000 shares of Penn Virginia stock in a transaction that occurred on Monday, November 13th. The shares were bought at an average price of $38.72 per share, with a total value of $193,600.00. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Hedge funds have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. grew its holdings in shares of Penn Virginia by 212.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 35,166 shares of the company’s stock valued at $1,293,000 after purchasing an additional 23,914 shares during the last quarter. TIAA CREF Investment Management LLC purchased a new stake in Penn Virginia during the 2nd quarter valued at $1,403,000. Teachers Advisors LLC purchased a new stake in Penn Virginia during the 2nd quarter valued at $929,000. Voya Investment Management LLC purchased a new stake in Penn Virginia during the 2nd quarter valued at $252,000. Finally, Dimensional Fund Advisors LP boosted its position in Penn Virginia by 183.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 25,548 shares of the company’s stock valued at $939,000 after buying an additional 16,547 shares during the period. 66.26% of the stock is currently owned by institutional investors.
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. 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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