Shares of Penn Virginia (NYSE: PVA) were upgraded by SunTrust (NYSE: STI) from a "Neutral" rating to a "Buy" rating.
SunTrust cited its proposed increase in production of liquids at Eagle Ford as the catalyst behind their call. They have a price target of $20 on the
Liquids is a highly profitable product.
Penn Virginia is a oil and gas exploration and production company.
Penn was trading at $14.34, gaining $0.42, or 3.02 percent, as of 2:27 PM EDT.
Showing posts with label Penn Virginia. Show all posts
Showing posts with label Penn Virginia. Show all posts
Tuesday, May 24, 2011
Wednesday, September 15, 2010
Penn Virginia (NYSE:PVA) Upgraded by Barclays (NYSE:BCS)
Penn Virginia (NYSE:PVA) was the recipient of an upgrade from Barclays (NYSE:BCS), getting bumped from "Equalweight" to "Overweight."
"Shares currently trade at 4.2x our 2011 pre-interest cash flow estimate compared with a peer average of 5.8x. Development of the Granite Wash is expected to drive a steeper ramp in production with a greater mix of liquids in 2H10 and FY11. Exploration results in the play later this year could add to the drilling inventory," Barclays said.
Even so, the price target on the company was dropped significantly from $30 a share to $25 a share.
Penn closed Tuesday at $20.09, falling $0.12, or 0.60 percent.
"Shares currently trade at 4.2x our 2011 pre-interest cash flow estimate compared with a peer average of 5.8x. Development of the Granite Wash is expected to drive a steeper ramp in production with a greater mix of liquids in 2H10 and FY11. Exploration results in the play later this year could add to the drilling inventory," Barclays said.
Even so, the price target on the company was dropped significantly from $30 a share to $25 a share.
Penn closed Tuesday at $20.09, falling $0.12, or 0.60 percent.
Wednesday, June 23, 2010
Credit Suisse (NYSE:CS) Covering 8 More Oil and Gas Stocks
Credit Suisse (NYSE:CS) has initiated coverage on eight more oil and gas stocks, including Penn Virginia (NYSE:PVA), Berry Petroleum (NYSE:BRY), Comstock Resources (NYSE:CRK), Swift Energy Company (NYSE:SFY), Rosetta Resources (Nasdaq:ROSE), Petroleum Development (Nasdaq:PETD), GMX Resources (Nasdaq:GMXR) and Rex Energy (Nasdaq:REXX).
The giants bank started these five off at "Outperform" ratings: Penn Virginia, Berry Petroleum, Comstock Resources, Swift Energy Company and Rosetta Resources.
Identified as neutral were Petroleum Development, GMX Resources and Rex Energy.
The price target from highest to lowest was Comstock Resources, with a price target of $43, and standing at $22.15 as of 3:13 PM EDT today. The price target for Berry Petroleum is $40, standing today at $30.24, as of 3:11 PM EDT.
Moving to price targets between $30 and $39 a share, we start with Swift Energy Company, with a target of $39 share, and at 29.82 as of 3:17 PM EDT. Next is Penn Virginia, which is expected to reach $33 a share, and is at $22.16 at 3:15 PM EDT. Finally comes Rosetta Resources, which Credit Suisse expects to reach $31, and is at $22.71 at 3:17 PM EDT.
At a price target of $29 a share is Petroleum Development, which stands at 26.19 at 3:20 PM EDT.
Rex Energy as a target of $13 attached to it, which today is at $10.72 a share at 3:21 PM EDT.
Last with an $8 a share price target is GMX Resources, which isn't that far from there, now at 7.12 at 3:22 PM EDT.
The giants bank started these five off at "Outperform" ratings: Penn Virginia, Berry Petroleum, Comstock Resources, Swift Energy Company and Rosetta Resources.
Identified as neutral were Petroleum Development, GMX Resources and Rex Energy.
The price target from highest to lowest was Comstock Resources, with a price target of $43, and standing at $22.15 as of 3:13 PM EDT today. The price target for Berry Petroleum is $40, standing today at $30.24, as of 3:11 PM EDT.
Moving to price targets between $30 and $39 a share, we start with Swift Energy Company, with a target of $39 share, and at 29.82 as of 3:17 PM EDT. Next is Penn Virginia, which is expected to reach $33 a share, and is at $22.16 at 3:15 PM EDT. Finally comes Rosetta Resources, which Credit Suisse expects to reach $31, and is at $22.71 at 3:17 PM EDT.
At a price target of $29 a share is Petroleum Development, which stands at 26.19 at 3:20 PM EDT.
Rex Energy as a target of $13 attached to it, which today is at $10.72 a share at 3:21 PM EDT.
Last with an $8 a share price target is GMX Resources, which isn't that far from there, now at 7.12 at 3:22 PM EDT.
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