In a report released today, Jeff Grampp from Northland Securities maintained a Buy rating on Penn Virginia Corporation (PVAC), with a price target of $65. The company’s shares closed on Friday at $40.99, close to its 52-week low of $39.55.
Grampp commented:
“We think risk-reward at these levels is favorable given its de-risked assets and healthy balance sheet. While we are lowering PT and estimates (PT from $82 to $65), reflecting a conservative inventory update and guidance, shares are cheap at ~3.0x 2020 EV/EBITDA.”
According to TipRanks.com, Grampp has 0 stars on 0-5 star ranking scale with an average return of -6.9% and a 37.4% success rate. Grampp covers the Basic Materials sector, focusing on stocks such as Sundance Energy Australia, SilverBow Resources Inc, and Goodrich Petroleum Corp.
Currently, the analyst consensus on Penn Virginia Corporation is a Moderate Buy with an average price target of $82.
See today’s analyst top recommended stocks >>
Penn Virginia Corporation’s market cap is currently $618.2M and has a P/E ratio of 2.79. The company has a Price to Book ratio of 1.38.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
