Truist Securiti Research Analysts Lift Earnings Estimates for Penn Virginia Co. (NASDAQ:PVAC)


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Penn Virginia Co. (NASDAQ:PVAC) – Research analysts at Truist Securiti increased their Q2 2021 EPS estimates for shares of Penn Virginia in a research note issued on Wednesday, April 14th. Truist Securiti analyst N. Dingmann now expects that the company will post earnings per share of $0.88 for the quarter, up from their previous forecast of $0.82. Truist Securiti also issued estimates for Penn Virginia’s Q4 2022 earnings at $0.65 EPS.

Separately, Zacks Investment Research upgraded shares of Penn Virginia from a “hold” rating to a “strong-buy” rating and set a $12.00 price target on the stock in a research note on Wednesday, February 3rd. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $11.67.

PVAC stock opened at $12.03 on Thursday. Penn Virginia has a 12-month low of $3.00 and a 12-month high of $20.18. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 1.49. The company has a market cap of $184.11 million, a price-to-earnings ratio of -1.07 and a beta of 3.64. The company has a 50 day moving average of $15.14 and a two-hundred day moving average of $11.64.

Penn Virginia (NASDAQ:PVAC) last released its earnings results on Tuesday, March 9th. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.44. Penn Virginia had a negative net margin of 52.13% and a positive return on equity of 19.99%.

Institutional investors and hedge funds have recently made changes to their positions in the company. Citigroup Inc. increased its stake in shares of Penn Virginia by 164.8% during the 4th quarter. Citigroup Inc. now owns 4,202 shares of the company’s stock worth $43,000 after purchasing an additional 2,615 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Penn Virginia during the 3rd quarter worth $108,000. 1492 Capital Management LLC acquired a new position in shares of Penn Virginia during the 4th quarter worth $128,000. Squarepoint Ops LLC acquired a new position in Penn Virginia in the 4th quarter valued at $130,000. Finally, SG Americas Securities LLC acquired a new position in Penn Virginia in the 4th quarter valued at $133,000. Institutional investors own 73.35% of the company’s stock.

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. As of December 31, 2020, it had total proved reserves of approximately 126 million barrels of oil equivalent; and 532 gross productive wells, as well as owned approximately 98,300 gross acres of leasehold and royalty interests.

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

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