Intrinsic value of Penn Virginia Corporation - PVAC

Previous Close

$53.94

  Intrinsic Value

$1,692

stock screener

  Rating & Target

str. buy

+999%

Previous close

$53.94

 
Intrinsic value

$1,692

 
Up/down potential

+999%

 
Rating

str. buy

We calculate the intrinsic value of PVAC stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.8

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  60.00
  54.50
  49.55
  45.10
  41.09
  37.48
  34.23
  31.31
  28.68
  26.31
  24.18
  22.26
  20.53
  18.98
  17.58
  16.32
  15.19
  14.17
  13.26
  12.43
  11.69
  11.02
  10.42
  9.87
  9.39
  8.95
  8.55
  8.20
  7.88
  7.59
Revenue, $m
  706
  1,090
  1,630
  2,366
  3,337
  4,588
  6,159
  8,087
  10,406
  13,143
  16,321
  19,954
  24,051
  28,616
  33,647
  39,140
  45,086
  51,475
  58,299
  65,545
  73,205
  81,271
  89,736
  98,597
  107,853
  117,504
  127,555
  138,012
  148,885
  160,186
Variable operating expenses, $m
  310
  480
  717
  1,041
  1,468
  2,019
  2,710
  3,558
  4,578
  5,783
  7,181
  8,780
  10,582
  12,591
  14,805
  17,221
  19,838
  22,649
  25,651
  28,840
  32,210
  35,759
  39,484
  43,383
  47,455
  51,702
  56,124
  60,725
  65,509
  70,482
Fixed operating expenses, $m
  39
  40
  41
  41
  42
  43
  44
  45
  46
  47
  48
  49
  50
  52
  53
  54
  55
  56
  57
  59
  60
  61
  63
  64
  65
  67
  68
  70
  71
  73
Total operating expenses, $m
  349
  520
  758
  1,082
  1,510
  2,062
  2,754
  3,603
  4,624
  5,830
  7,229
  8,829
  10,632
  12,643
  14,858
  17,275
  19,893
  22,705
  25,708
  28,899
  32,270
  35,820
  39,547
  43,447
  47,520
  51,769
  56,192
  60,795
  65,580
  70,555
Operating income, $m
  356
  571
  872
  1,283
  1,827
  2,526
  3,405
  4,483
  5,781
  7,313
  9,091
  11,125
  13,418
  15,973
  18,790
  21,864
  25,193
  28,770
  32,590
  36,646
  40,935
  45,450
  50,190
  55,150
  60,332
  65,735
  71,362
  77,217
  83,304
  89,631
EBITDA, $m
  561
  887
  1,345
  1,969
  2,794
  3,856
  5,190
  6,827
  8,797
  11,122
  13,822
  16,908
  20,389
  24,267
  28,542
  33,208
  38,260
  43,689
  49,486
  55,643
  62,151
  69,005
  76,197
  83,726
  91,590
  99,791
  108,331
  117,216
  126,455
  136,057
Interest expense (income), $m
  0
  35
  60
  97
  149
  219
  312
  432
  583
  767
  990
  1,252
  1,556
  1,905
  2,297
  2,735
  3,217
  3,743
  4,313
  4,925
  5,579
  6,273
  7,007
  7,780
  8,592
  9,441
  10,328
  11,252
  12,216
  13,218
  14,260
Earnings before tax, $m
  322
  511
  775
  1,135
  1,607
  2,214
  2,972
  3,901
  5,014
  6,323
  7,839
  9,568
  11,514
  13,676
  16,055
  18,648
  21,450
  24,457
  27,665
  31,067
  34,661
  38,443
  42,409
  46,559
  50,891
  55,408
  60,110
  65,001
  70,087
  75,372
Tax expense, $m
  87
  138
  209
  306
  434
  598
  803
  1,053
  1,354
  1,707
  2,117
  2,583
  3,109
  3,693
  4,335
  5,035
  5,791
  6,603
  7,469
  8,388
  9,359
  10,380
  11,450
  12,571
  13,741
  14,960
  16,230
  17,550
  18,923
  20,350
Net income, $m
  235
  373
  566
  828
  1,173
  1,616
  2,170
  2,847
  3,660
  4,616
  5,723
  6,985
  8,405
  9,984
  11,720
  13,613
  15,658
  17,854
  20,195
  22,679
  25,303
  28,063
  30,959
  33,988
  37,151
  40,448
  43,880
  47,451
  51,163
  55,021

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,708
  2,640
  3,948
  5,728
  8,081
  11,109
  14,912
  19,580
  25,195
  31,824
  39,518
  48,314
  58,235
  69,288
  81,470
  94,769
  109,166
  124,638
  141,159
  158,705
  177,252
  196,782
  217,279
  238,734
  261,145
  284,513
  308,849
  334,169
  360,497
  387,860
Adjusted assets (=assets-cash), $m
  1,708
  2,640
  3,948
  5,728
  8,081
  11,109
  14,912
  19,580
  25,195
  31,824
  39,518
  48,314
  58,235
  69,288
  81,470
  94,769
  109,166
  124,638
  141,159
  158,705
  177,252
  196,782
  217,279
  238,734
  261,145
  284,513
  308,849
  334,169
  360,497
  387,860
Revenue / Adjusted assets
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
Average production assets, $m
  1,166
  1,801
  2,693
  3,908
  5,513
  7,580
  10,174
  13,359
  17,190
  21,712
  26,962
  32,964
  39,732
  47,273
  55,585
  64,659
  74,482
  85,037
  96,309
  108,280
  120,935
  134,259
  148,244
  162,883
  178,173
  194,116
  210,720
  227,996
  245,958
  264,628
Working capital, $m
  -49
  -76
  -114
  -166
  -234
  -321
  -431
  -566
  -728
  -920
  -1,142
  -1,397
  -1,684
  -2,003
  -2,355
  -2,740
  -3,156
  -3,603
  -4,081
  -4,588
  -5,124
  -5,689
  -6,282
  -6,902
  -7,550
  -8,225
  -8,929
  -9,661
  -10,422
  -11,213
Total debt, $m
  884
  1,426
  2,187
  3,223
  4,593
  6,355
  8,569
  11,286
  14,553
  18,411
  22,889
  28,009
  33,782
  40,215
  47,305
  55,046
  63,425
  72,429
  82,044
  92,256
  103,050
  114,417
  126,346
  138,833
  151,876
  165,476
  179,640
  194,376
  209,699
  225,625
Total liabilities, $m
  994
  1,536
  2,297
  3,333
  4,703
  6,466
  8,679
  11,396
  14,664
  18,521
  22,999
  28,119
  33,893
  40,326
  47,416
  55,156
  63,535
  72,539
  82,155
  92,366
  103,161
  114,527
  126,456
  138,943
  151,986
  165,587
  179,750
  194,487
  209,809
  225,735
Total equity, $m
  714
  1,103
  1,650
  2,394
  3,378
  4,644
  6,233
  8,185
  10,532
  13,302
  16,518
  20,195
  24,342
  28,962
  34,055
  39,614
  45,632
  52,099
  59,004
  66,339
  74,091
  82,255
  90,823
  99,791
  109,158
  118,926
  129,099
  139,683
  150,688
  162,126
Total liabilities and equity, $m
  1,708
  2,639
  3,947
  5,727
  8,081
  11,110
  14,912
  19,581
  25,196
  31,823
  39,517
  48,314
  58,235
  69,288
  81,471
  94,770
  109,167
  124,638
  141,159
  158,705
  177,252
  196,782
  217,279
  238,734
  261,144
  284,513
  308,849
  334,170
  360,497
  387,861
Debt-to-equity ratio
  1.240
  1.290
  1.330
  1.350
  1.360
  1.370
  1.370
  1.380
  1.380
  1.380
  1.390
  1.390
  1.390
  1.390
  1.390
  1.390
  1.390
  1.390
  1.390
  1.390
  1.390
  1.390
  1.390
  1.390
  1.390
  1.390
  1.390
  1.390
  1.390
  1.390
Adjusted equity ratio
  0.418
  0.418
  0.418
  0.418
  0.418
  0.418
  0.418
  0.418
  0.418
  0.418
  0.418
  0.418
  0.418
  0.418
  0.418
  0.418
  0.418
  0.418
  0.418
  0.418
  0.418
  0.418
  0.418
  0.418
  0.418
  0.418
  0.418
  0.418
  0.418
  0.418

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  235
  373
  566
  828
  1,173
  1,616
  2,170
  2,847
  3,660
  4,616
  5,723
  6,985
  8,405
  9,984
  11,720
  13,613
  15,658
  17,854
  20,195
  22,679
  25,303
  28,063
  30,959
  33,988
  37,151
  40,448
  43,880
  47,451
  51,163
  55,021
Depreciation, amort., depletion, $m
  205
  316
  473
  686
  967
  1,330
  1,785
  2,344
  3,016
  3,809
  4,730
  5,783
  6,971
  8,294
  9,752
  11,344
  13,067
  14,919
  16,896
  18,997
  21,217
  23,554
  26,008
  28,576
  31,258
  34,056
  36,968
  39,999
  43,151
  46,426
Funds from operations, $m
  439
  689
  1,039
  1,514
  2,141
  2,946
  3,955
  5,191
  6,676
  8,425
  10,453
  12,768
  15,375
  18,277
  21,472
  24,956
  28,725
  32,773
  37,092
  41,676
  46,519
  51,618
  56,967
  62,564
  68,409
  74,503
  80,849
  87,450
  94,314
  101,447
Change in working capital, $m
  -19
  -27
  -38
  -51
  -68
  -88
  -110
  -135
  -162
  -192
  -222
  -254
  -287
  -320
  -352
  -384
  -416
  -447
  -478
  -507
  -536
  -565
  -593
  -620
  -648
  -676
  -704
  -732
  -761
  -791
Cash from operations, $m
  458
  716
  1,076
  1,565
  2,209
  3,033
  4,065
  5,326
  6,838
  8,617
  10,675
  13,022
  15,662
  18,597
  21,824
  25,341
  29,142
  33,220
  37,569
  42,183
  47,056
  52,182
  57,559
  63,184
  69,057
  75,179
  81,552
  88,182
  95,075
  102,238
Maintenance CAPEX, $m
  -128
  -205
  -316
  -473
  -686
  -967
  -1,330
  -1,785
  -2,344
  -3,016
  -3,809
  -4,730
  -5,783
  -6,971
  -8,294
  -9,752
  -11,344
  -13,067
  -14,919
  -16,896
  -18,997
  -21,217
  -23,554
  -26,008
  -28,576
  -31,258
  -34,056
  -36,968
  -39,999
  -43,151
New CAPEX, $m
  -437
  -635
  -892
  -1,215
  -1,606
  -2,066
  -2,594
  -3,185
  -3,831
  -4,522
  -5,249
  -6,002
  -6,769
  -7,541
  -8,312
  -9,074
  -9,823
  -10,556
  -11,272
  -11,971
  -12,654
  -13,325
  -13,985
  -14,639
  -15,290
  -15,944
  -16,604
  -17,275
  -17,962
  -18,670
Cash from investing activities, $m
  -565
  -840
  -1,208
  -1,688
  -2,292
  -3,033
  -3,924
  -4,970
  -6,175
  -7,538
  -9,058
  -10,732
  -12,552
  -14,512
  -16,606
  -18,826
  -21,167
  -23,623
  -26,191
  -28,867
  -31,651
  -34,542
  -37,539
  -40,647
  -43,866
  -47,202
  -50,660
  -54,243
  -57,961
  -61,821
Free cash flow, $m
  -107
  -124
  -132
  -122
  -82
  0
  141
  356
  663
  1,079
  1,617
  2,290
  3,111
  4,085
  5,219
  6,515
  7,975
  9,597
  11,378
  13,316
  15,405
  17,641
  20,020
  22,538
  25,191
  27,977
  30,893
  33,938
  37,113
  40,418
Issuance/(repayment) of debt, $m
  373
  542
  761
  1,036
  1,370
  1,763
  2,213
  2,717
  3,268
  3,858
  4,478
  5,120
  5,774
  6,433
  7,090
  7,740
  8,379
  9,004
  9,615
  10,212
  10,795
  11,366
  11,929
  12,487
  13,043
  13,600
  14,164
  14,736
  15,322
  15,926
Issuance/(repurchase) of shares, $m
  32
  16
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  405
  558
  761
  1,036
  1,370
  1,763
  2,213
  2,717
  3,268
  3,858
  4,478
  5,120
  5,774
  6,433
  7,090
  7,740
  8,379
  9,004
  9,615
  10,212
  10,795
  11,366
  11,929
  12,487
  13,043
  13,600
  14,164
  14,736
  15,322
  15,926
Total cash flow (excl. dividends), $m
  298
  434
  629
  914
  1,287
  1,762
  2,354
  3,073
  3,931
  4,936
  6,095
  7,410
  8,884
  10,518
  12,309
  14,256
  16,354
  18,602
  20,994
  23,527
  26,199
  29,007
  31,949
  35,025
  38,234
  41,577
  45,056
  48,675
  52,436
  56,344
Retained Cash Flow (-), $m
  -267
  -389
  -547
  -744
  -984
  -1,266
  -1,590
  -1,951
  -2,347
  -2,771
  -3,216
  -3,677
  -4,147
  -4,620
  -5,092
  -5,559
  -6,018
  -6,467
  -6,906
  -7,334
  -7,753
  -8,163
  -8,568
  -8,968
  -9,368
  -9,768
  -10,172
  -10,584
  -11,005
  -11,438
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  31
  45
  83
  170
  303
  497
  764
  1,122
  1,584
  2,166
  2,879
  3,733
  4,738
  5,898
  7,217
  8,697
  10,336
  12,134
  14,088
  16,193
  18,446
  20,844
  23,382
  26,057
  28,866
  31,809
  34,884
  38,091
  41,431
  44,906
Discount rate, %
  5.00
  5.25
  5.51
  5.79
  6.08
  6.38
  6.70
  7.04
  7.39
  7.76
  8.14
  8.55
  8.98
  9.43
  9.90
  10.39
  10.91
  11.46
  12.03
  12.63
  13.27
  13.93
  14.63
  15.36
  16.13
  16.93
  17.78
  18.67
  19.60
  20.58
PV of cash for distribution, $m
  29
  41
  70
  136
  226
  343
  485
  651
  834
  1,026
  1,217
  1,395
  1,549
  1,671
  1,751
  1,787
  1,777
  1,721
  1,627
  1,499
  1,348
  1,183
  1,012
  845
  687
  545
  421
  316
  231
  164
Current shareholders' claim on cash, %
  96.2
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0

Penn Virginia Corporation, an independent oil and gas company, engages in the exploration, development, and production of crude oil, natural gas liquids, and natural gas in various onshore regions of the United States. The company primarily operates wells in the Eagle Ford Shale field in South Texas. It also has operations in the Granite Wash in Oklahoma. As of December 31, 2015, the company had proved reserves of approximately 44 million barrels of oil equivalent; and 432 gross productive wells, as well as owned approximately 166,000 gross acres of leasehold and royalty interests. Penn Virginia Corporation was founded in 1882 and is headquartered in Radnor, Pennsylvania.

FINANCIAL RATIOS  of  Penn Virginia Corporation (PVAC)

Valuation Ratios
P/E Ratio 0
Price to Sales 0
Price to Book 0
Price to Tangible Book
Price to Cash Flow 0
Price to Free Cash Flow 0
Growth Rates
Sales Growth Rate -100%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate NaN%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets 0%
Ret/ On Assets - 3 Yr. Avg. 0%
Return On Total Capital 0%
Ret/ On T. Cap. - 3 Yr. Avg. 0%
Return On Equity 0%
Return On Equity - 3 Yr. Avg. 0%
Asset Turnover 0
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 0%
EBITDA Margin - 3 Yr. Avg. 0%
Operating Margin 0%
Oper. Margin - 3 Yr. Avg. 0%
Pre-Tax Margin 0%
Pre-Tax Margin - 3 Yr. Avg. 0%
Net Profit Margin 0%
Net Profit Margin - 3 Yr. Avg. 0%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 0%

PVAC stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the PVAC stock intrinsic value calculation we used $441 million for the last fiscal year's total revenue generated by Penn Virginia Corporation. The default revenue input number comes from 0001 income statement of Penn Virginia Corporation. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our PVAC stock valuation model: a) initial revenue growth rate of 60% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 5%, whose default value for PVAC is calculated based on our internal credit rating of Penn Virginia Corporation, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Penn Virginia Corporation.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of PVAC stock the variable cost ratio is equal to 44%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $38 million in the base year in the intrinsic value calculation for PVAC stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 6.8% for Penn Virginia Corporation.

Corporate tax rate of 27% is the nominal tax rate for Penn Virginia Corporation. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the PVAC stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for PVAC are equal to 165.2%.

Life of production assets of 5.7 years is the average useful life of capital assets used in Penn Virginia Corporation operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for PVAC is equal to -7%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $447.355 million for Penn Virginia Corporation - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 15.105 million for Penn Virginia Corporation is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Penn Virginia Corporation at the current share price and the inputted number of shares is $0.8 billion.

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