BidaskClub cut shares of Penn Virginia (NASDAQ:PVAC) from a sell rating to a strong sell rating in a research note published on Saturday morning, BidAskClub reports.

Several other research analysts have also recently issued reports on the company. ValuEngine cut Penn Virginia from a buy rating to a hold rating in a research report on Thursday, October 31st. Zacks Investment Research raised Penn Virginia from a sell rating to a hold rating in a research report on Thursday, November 14th. Finally, Northland Securities reissued a buy rating and issued a $54.00 target price on shares of Penn Virginia in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. Penn Virginia currently has an average rating of Hold and a consensus price target of $60.50.

Shares of NASDAQ:PVAC traded down $2.16 on Friday, hitting $24.01. 389,100 shares of the company’s stock were exchanged, compared to its average volume of 221,565. The firm’s 50-day moving average is $26.56 and its 200 day moving average is $30.79. The company has a market capitalization of $397.44 million, a PE ratio of 2.61 and a beta of 1.37. Penn Virginia has a 1-year low of $23.00 and a 1-year high of $62.92. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.82 and a current ratio of 0.82.

Penn Virginia (NASDAQ:PVAC) last released its quarterly earnings data on Thursday, November 7th. The company reported $1.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.89 by $0.08. The business had revenue of $119.30 million during the quarter, compared to analysts’ expectations of $121.18 million. Penn Virginia had a return on equity of 29.06% and a net margin of 56.77%. On average, analysts anticipate that Penn Virginia will post 8 EPS for the current fiscal year.

In related news, CFO Steven A. Hartman sold 18,586 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $32.98, for a total value of $612,966.28. Also, CFO Steven A. Hartman sold 12,925 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $32.58, for a total value of $421,096.50. The disclosure for this sale can be found here. 0.36% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tyers Asset Management LLC acquired a new stake in shares of Penn Virginia in the 2nd quarter valued at about $31,000. Riverhead Capital Management LLC acquired a new stake in Penn Virginia during the 2nd quarter worth approximately $34,000. Elkfork Partners LLC acquired a new stake in Penn Virginia during the 2nd quarter worth approximately $43,000. Meadow Creek Investment Management LLC acquired a new stake in Penn Virginia during the 2nd quarter worth approximately $54,000. Finally, Glen Harbor Capital Management LLC acquired a new stake in Penn Virginia during the 2nd quarter worth approximately $66,000. 98.22% of the stock is owned by hedge funds and other institutional investors.

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, 2018, it had total proved reserves of approximately 123 million barrels of oil equivalent; and 460 gross productive wells, as well as owned approximately 98,200 gross acres of leasehold and royalty interests.

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