Penn Virginia Corporation (NYSE:PVA) Investors Target $12 Per Share

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Dallas, Texas 10/14/2013 (Financialstrend) – Penn Virginia Corporation (NYSE:PVA) is an independent oil & gas production stage company. It has market capitalization of $491 million. The stock of this oil producer has charted a significant rally in its market value over the past few months. Its share price has spurted up 37% in the last 30 days and by close to 61% over the past quarter. Unlike most other oil and gas companies which have cut down dividend payout plans, Penn Virginia has paid out $6 for every share of its outstanding stock of 62.9 million shares. It has a unbelievable 76% forward yield for the year which is a tough act to follow by its competition.

This strong showing by the stock of PVA at the markets over the past few months has further accelerated over the past week. On October 4, Penn Virginia stock notched up 8.8% appreciation in its market value. This transpired thanks to its target price being upped form its current $7.81 to $12 by mid 2014 by Howard Weil. The reason for the positive sentiments is backed by the strong upside in the valuation of PVA current assets. Of primacy to analysts are the every growing estimations of the Eagle Ford shale in which PVA owns close to 66 thousand net acres.  The analyst firm Howard Weil believes that this one stand alone oil production property itself can sustain the mid cap oil major production into the next decade. This analysis is based on current asset and engineering resources PVA has already in place at its Eagle Ford property. The analyst firm believes that the potential exists for the oil firm to double its production over the next 10 years.

Investors of PVA would be hoping that these estimations come through as they have seen their share holding grow by 97% in the past 6 months.

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