UPDATE: Oppenheimer Starts Penn Virginia (PVA) at Perform
Get Alerts PVA Hot Sheet
Rating Summary:
3 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 10 | New: 10
Join SI Premium – FREE
Oppenheimer initiated coverage on Penn Virginia (NYSE: PVA) with a Perform rating.
Analyst Robert Du Boff commented, "We believe the company has a desirable asset base in the Eagle Ford Shale and continues to make progress delineating the acreage, improving operations, and cutting costs. However, given the company's considerable debt burden, we believe PVA will have to sell assets or equity in what could be an unfavorable market just to maintain production, which could ultimately erode shareholder value in the near term. We do not rule out a takeout in light of recent media reports, but we believe the M&A market is still lukewarm at this point and conditions may get substantially worse before a buyer steps in."
For an analyst ratings summary and ratings history on Penn Virginia click here. For more ratings news on Penn Virginia click here.
Shares of Penn Virginia closed at $4.92 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Recruit Holdings Co., Ltd (6098:JP) (RCRUY) PT Raised to JPY7,800 at Jefferies, 'emerged stronger since the last earnings season'
- Monness, Crespi, Hardt Downgrades Palantir Technologies Inc. (PLTR) to Sell on 'egregiously rich valuation... darkest days of this economic downturn are ahead of us'
- PICC Property & Casualty Co Ltd (2328:HK) (PPCCY) PT Raised to HK$12 at HSBC
Create E-mail Alert Related Categories
Analyst Comments, New CoverageSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!