In a report released today, Jeff Grampp from Northland Securities upgraded Penn Virginia Corporation (PVAC) to Buy, with a price target of $82. The company’s shares closed yesterday at $54.30.
Grampp commented:
“We believe shares of PVAC are attractively valued at only 3.1x 2020 EV/EBITDA, an 11% discount to our Eagle Ford coverage universe average of ~3.4x (Excluding PVAC). Additionally, we estimate the company has a 2020 FCF yield of ~8% with y-o-y production growth of ~19% y-o-y.”
According to TipRanks.com, Grampp ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -8.8% and a 39.0% success rate. Grampp covers the Basic Materials sector, focusing on stocks such as Sundance Energy Australia, SilverBow Resources Inc, and Goodrich Petroleum Corp.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Penn Virginia Corporation with a $69.50 average price target.
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The company has a one-year high of $96.13 and a one-year low of $32.91. Currently, Penn Virginia Corporation has an average volume of 122.7K.
Based on the recent corporate insider activity of 8 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PVAC in relation to earlier this year.
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Penn Virginia Corp. engages in the exploration, development, and production of oil, natural gas liquids, and natural gas in various domestic onshore regions of the United States. It focuses primarily on the Eagle Ford Shale project located in South Texas. The company was founded in 1882 and is headquartered in Houston, TX.
