Equities Analysts Offer Predictions for Penn Virginia Corporation’s FY2017 Earnings (PVAC)
Penn Virginia Corporation (NASDAQ:PVAC) – Investment analysts at SunTrust Banks issued their FY2017 EPS estimates for shares of Penn Virginia in a report released on Tuesday. SunTrust Banks analyst N. Dingmann forecasts that the company will post earnings of $2.27 per share for the year. SunTrust Banks has a “Buy” rating and a $50.00 price objective on the stock. SunTrust Banks also issued estimates for Penn Virginia’s Q4 2017 earnings at $0.42 EPS, FY2018 earnings at $4.10 EPS, FY2019 earnings at $7.16 EPS and FY2020 earnings at $11.18 EPS.
PVAC has been the topic of several other reports. Northland Securities restated a “buy” rating and set a $63.00 price target on shares of Penn Virginia in a report on Thursday, October 12th. Zacks Investment Research upgraded shares of Penn Virginia from a “hold” rating to a “strong-buy” rating and set a $44.00 price target on the stock in a report on Tuesday, August 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $51.50.
In related news, insider Harry Quarls purchased 5,000 shares of the stock in a transaction dated Thursday, November 30th. The shares were acquired at an average cost of $34.64 per share, for a total transaction of $173,200.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.
Institutional investors have recently bought and sold shares of the company. Legal & General Group Plc purchased a new position in shares of Penn Virginia during the 2nd quarter valued at $104,000. SG Americas Securities LLC purchased a new position in shares of Penn Virginia during the 3rd quarter valued at $181,000. Strs Ohio purchased a new position in shares of Penn Virginia during the 2nd quarter valued at $183,000. Voya Investment Management LLC purchased a new position in shares of Penn Virginia during the 2nd quarter valued at $252,000. Finally, Nationwide Fund Advisors purchased a new position in shares of Penn Virginia during the 2nd quarter valued at $297,000. Institutional investors and hedge funds own 66.18% of the company’s stock.
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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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