Penn Virginia (PVAC) Downgraded by BidaskClub to Strong Sell

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Penn Virginia (NASDAQ:PVAC) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Friday, BidAskClub reports.

A number of other equities analysts have also commented on the stock. Capital One Financial lowered shares of Penn Virginia from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, January 9th. ValuEngine raised shares of Penn Virginia from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 2nd. Northland Securities lowered shares of Penn Virginia from an “outperform” rating to a “market perform” rating in a research note on Monday, December 10th. Finally, Zacks Investment Research lowered shares of Penn Virginia from a “hold” rating to a “sell” rating in a research note on Wednesday, December 19th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $105.33.

Penn Virginia stock opened at $43.34 on Friday. Penn Virginia has a 52 week low of $34.04 and a 52 week high of $96.13. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.21 and a quick ratio of 1.21. The company has a market capitalization of $645.15 million, a P/E ratio of 4.72 and a beta of 0.94.

Penn Virginia (NASDAQ:PVAC) last posted its quarterly earnings data on Wednesday, February 27th. The company reported $2.56 EPS for the quarter, missing analysts’ consensus estimates of $3.80 by ($1.24). Penn Virginia had a return on equity of 48.83% and a net margin of 50.99%. The firm had revenue of $124.86 million during the quarter, compared to analyst estimates of $143.60 million. Equities analysts forecast that Penn Virginia will post 10.02 EPS for the current year.

Large investors have recently modified their holdings of the business. Vanguard Group Inc boosted its stake in shares of Penn Virginia by 11.1% during the 3rd quarter. Vanguard Group Inc now owns 801,900 shares of the company’s stock valued at $64,585,000 after buying an additional 79,988 shares during the period. Citigroup Inc. boosted its stake in shares of Penn Virginia by 2,374.6% during the 4th quarter. Citigroup Inc. now owns 131,871 shares of the company’s stock valued at $7,129,000 after buying an additional 126,542 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Penn Virginia by 6.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 549,598 shares of the company’s stock valued at $44,264,000 after buying an additional 33,127 shares during the period. Morgan Stanley boosted its stake in shares of Penn Virginia by 278.5% during the 3rd quarter. Morgan Stanley now owns 148,520 shares of the company’s stock valued at $11,961,000 after buying an additional 109,277 shares during the period. Finally, Manikay Partners LLC acquired a new stake in shares of Penn Virginia during the 4th quarter valued at $9,606,000. 99.03% of the stock is 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. It primarily operates wells in the Eagle Ford Shale field in South Texas. The company also has operations in the Granite Wash in Oklahoma.

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