Market Overview

UPDATE: Barclays Maintains Penn Virginia at Underweight on 2013 Production Outlook

Share:
Related PVA
Credit Suisse's E&P Earnings Recap And Top 3 Stock Picks
Imperial Capital Reiterates Outperform, Raises Price Target On Penn Virginia On 4Q14 Review
Finding Value With The Piotroski F-Score Part 4 (Seeking Alpha)

Barclays reiterated its Underweight rating and $5 price target on Penn Virginia (NYSE: PVA) as the quarterly production guidance declines.

Barclays noted, "Our UW rating reflects concern in achieving the 2013 production targets and continuing to fund the cash flow gap while relying almost entirely on the Eagle Ford play for growth. … Management issued FY13 production guidance of 34-37 Bcfe, an 8% decrease from its FY12 guidance of 38-39 Bcfe, partially due to asset sales. PVA expects oil production to grow 25% Y-o-Y and liquids production to comprise 55-65% of FY13 equivalent volumes. We are somewhat cautious on the guidance given the fact that oil volumes have been on a slower trajectory in 2012 with a similar capital program."

Penn Virginia closed at $4.41 on Tuesday.

Latest Ratings for PVA

DateFirmActionFromTo
Jan 2015BarclaysMaintainsEqual-weight
Dec 2014BarclaysMaintainsEqual-weight
Dec 2014Imperial CapitalMaintainsOutperform

View More Analyst Ratings for PVA
View the Latest Analyst Ratings

Posted-In: BarclaysAnalyst Color Reiteration Intraday Update Analyst Ratings

 

Related Articles (PVA)

Around the Web, We're Loving...