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Stock Market & Financial Investment News

News Breaks
February 21, 2014
07:32 EDTPVAPenn Virginia price target raised to $18 from $12 at RBC Capital
RBC Capital increased its price target on Penn Virginia after the company reported weaker than expected Q4 results. However, the firm expects the company to benefit from more accretive acquisitions, tighter wells spacing, continued strong well performance, and catalyst wells targeting the Upper Eagleford. The firm states that the company's well performance in the Eagleford Shale has continued to improve, and it keeps an Outperform rating on the shares.
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August 25, 2014
11:44 EDTPVAStocks with call strike movement; PVA HLF
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07:14 EDTPVAPenn Virginia sees Q3 production 1,909 MBOE-2,024 MBOE
Sees Q3 total production 20,750 BOEPD-22,000 BOEPD. Although well results continue to meet or exceed expectations, the company anticipates delays in the timing of completions associated with 2H14 drilling program, including those wells to be drilled with the recently added seventh and eighth drilling rigs. In addition, as a result of the delays, the company now expects four fewer wells will be turned in line in 2014, with those four wells now expected to be turned in line during 1Q15. Pro forma for the sale of the company's Mississippi assets, which closed at the end of July, the company now expects a 1%-7% increase in production in Q3 over Q2 and a 29%-36% increase in production in Q4 over Q3. The company's Eagle Ford production is expected to increase approximately 50%-60% in Q2 over the first half, driven by continued well completions and anticipated strong well results.

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