Wells Fargo on Penn Virginia Resource Partners (PVR); How Will Patriot Coal's (PCX) Bankruptcy Impact PVR
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Price: $26.83 +2.72%
Rating Summary:
2 Buy, 4 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
2 Buy, 4 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade PVR Now!
Wells Fargo maintains an 'Outperform' on Penn Virginia Resource Partners (NYSE: PVR).
Analyst, Ronald Londe, said, "Patriot Coal (NYSE: PCX)(OTC: PCXCQ) is Penn Virginia Resource Partners, L.P.'s (PVR) largest coal lessee representing approximately 15% of the partnership's coal royalty revenue. PVR management expects PCX to continue to operate its coal mines that are currently in production during Chapter 11. PCX is up todate on its payments to PVR. However, while not expected, there is a risk that PCX could alter its contracts with PVR depending on how the Chapter 11 filing proceeds and/or coal market fundamentals develop going forward."
However, Londe said, based on his estimates, if PVR doesn't receive any royalty payments from PCX in Q3/Q4 of 2012, distribution coverage for the partnership
would still be relatively close to 1.0x for full year.
For an analyst ratings summary and ratings history on Penn Virginia Resource Partners click here. For more ratings news on Penn Virginia Resource Partners click here.
Shares of Penn Virginia Resource Partners closed at $24.78 yesterday, with a 52 week range of $20.85-$28.05.
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Analyst, Ronald Londe, said, "Patriot Coal (NYSE: PCX)(OTC: PCXCQ) is Penn Virginia Resource Partners, L.P.'s (PVR) largest coal lessee representing approximately 15% of the partnership's coal royalty revenue. PVR management expects PCX to continue to operate its coal mines that are currently in production during Chapter 11. PCX is up todate on its payments to PVR. However, while not expected, there is a risk that PCX could alter its contracts with PVR depending on how the Chapter 11 filing proceeds and/or coal market fundamentals develop going forward."
However, Londe said, based on his estimates, if PVR doesn't receive any royalty payments from PCX in Q3/Q4 of 2012, distribution coverage for the partnership
would still be relatively close to 1.0x for full year.
For an analyst ratings summary and ratings history on Penn Virginia Resource Partners click here. For more ratings news on Penn Virginia Resource Partners click here.
Shares of Penn Virginia Resource Partners closed at $24.78 yesterday, with a 52 week range of $20.85-$28.05.
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