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Why Penn Virginia (PVAC) Could Be Positioned for a Surge

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Penn Virginia Corporation (PVAC - Free Report) is an independent oil and gas company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on NFX’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Newfield Exploration could be a solid choice for investors.

Current Quarter Estimates for PVAC

In the past 60 days, one estimate has gone higher for Penn Virginia while none has gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 74 cents a share 30 days ago, to 89 cents a share today, a move of 20.3%.

Current Year Estimates for PVAC

Meanwhile, Penn Virginia’s current year figures are also looking quite promising, with one estimate moving higher in the past one month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $2.58 per share 30 days ago to $2.73 per share today, a move of 5.8%.

Penn Virginia Corporation Price and Consensus

Bottom Line

The stock has also started to move higher lately, adding 28.4% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

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