Q3 2018 EPS Estimates for Penn Virginia Co. Lifted by SunTrust Banks (PVAC)
Penn Virginia Co. (NASDAQ:PVAC) – Research analysts at SunTrust Banks raised their Q3 2018 earnings per share estimates for Penn Virginia in a research report issued on Tuesday, August 28th. SunTrust Banks analyst N. Dingmann now anticipates that the company will post earnings of $2.44 per share for the quarter, up from their previous estimate of $1.77. SunTrust Banks currently has a “Buy” rating and a $108.00 target price on the stock. SunTrust Banks also issued estimates for Penn Virginia’s Q4 2018 earnings at $3.30 EPS, FY2018 earnings at $9.70 EPS, FY2019 earnings at $13.56 EPS and FY2020 earnings at $14.32 EPS.
A number of other research analysts have also recently weighed in on the stock. BidaskClub cut shares of Penn Virginia from a “buy” rating to a “hold” rating in a research note on Saturday, July 28th. Zacks Investment Research cut shares of Penn Virginia from a “hold” rating to a “sell” rating in a research note on Tuesday, May 8th. LADENBURG THALM/SH SH started coverage on shares of Penn Virginia in a research note on Tuesday, June 12th. They set a “buy” rating for the company. Finally, TheStreet raised shares of Penn Virginia from a “d+” rating to a “c-” rating in a research note on Wednesday, June 13th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $92.25.
Penn Virginia (NASDAQ:PVAC) last posted its quarterly earnings results on Wednesday, August 8th. The company reported $2.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.44 by $0.02. Penn Virginia had a negative net margin of 3.23% and a positive return on equity of 36.88%. The company had revenue of $111.58 million during the quarter, compared to the consensus estimate of $105.90 million.
Several hedge funds and other institutional investors have recently made changes to their positions in PVAC. UBS Group AG grew its stake in shares of Penn Virginia by 77.6% during the 1st quarter. UBS Group AG now owns 2,854 shares of the company’s stock valued at $100,000 after buying an additional 1,247 shares during the period. Nuveen Asset Management LLC acquired a new position in shares of Penn Virginia during the 1st quarter valued at $144,000. Tower Research Capital LLC TRC lifted its holdings in shares of Penn Virginia by 869.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,938 shares of the company’s stock valued at $165,000 after acquiring an additional 1,738 shares in the last quarter. California Public Employees Retirement System acquired a new position in shares of Penn Virginia during the 2nd quarter valued at $204,000. Finally, SG Americas Securities LLC lifted its holdings in shares of Penn Virginia by 59.8% during the 1st quarter. SG Americas Securities LLC now owns 6,798 shares of the company’s stock valued at $238,000 after acquiring an additional 2,544 shares in the last quarter. 97.92% 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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