NEW YORK (TheStreet) -- Shares of Penn Virginia Corp. (PVA)  are down 5.97% to $6.61 in late morning trading today as oil prices decline.

Both benchmarks are down, with West Texas Intermediate falling 3.97% to $45.18 at 11:07 a.m. Brent was lower by 2.04% to $56.12.

Oil prices are falling today after the International Energy Agency said that a global oil glut continues to build and U.S. oil production does not seem to be slowing.

"U.S. supply so far shows precious little sign of slowing down," the IEA said. "Quite to the contrary, it continues to defy expectations."

"The market will be more balanced in the second half, but there is still massive oversupply in the first half," Commerzbank analyst Barbara Lambrecht told Reuters.

"We still expect oil prices to fall in the coming weeks due to rising inventories," Lambrecht added.

Penn Virginia is a Wayne, PA-based independent oil and gas company. The company is engaged in the exploration, development and production of crude oil, natural gas liquids (NGL) and natural gas in onshore regions of the U.S.

Separately, the average recommendation of 14 brokers' estimates is a 2.1, with a 2 rating representing an "outperform" rating and a 3 a "hold." The mean target price is $9.18.

TheStreet Ratings team rates PENN VIRGINIA CORP as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:

"We rate PENN VIRGINIA CORP (PVA) a SELL. This is driven by multiple weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, generally high debt management risk, disappointing return on equity, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

• The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Oil, Gas & Consumable Fuels industry. The net income has significantly decreased by 17681.8% when compared to the same quarter one year ago, falling from -$2.35 million to -$417.69 million.
• Currently the debt-to-equity ratio of 1.64 is quite high overall and when compared to the industry average, suggesting that the current management of debt levels should be re-evaluated. To add to this, PVA has a quick ratio of 0.63, this demonstrates the lack of ability of the company to cover short-term liquidity needs.
• Return on equity has greatly decreased when compared to its ROE from the same quarter one year prior. This is a signal of major weakness within the corporation. Compared to other companies in the Oil, Gas & Consumable Fuels industry and the overall market, PENN VIRGINIA CORP's return on equity significantly trails that of both the industry average and the S&P 500.
• Despite any intermediate fluctuations, we have only bad news to report on this stock's performance over the last year: it has tumbled by 53.29%, worse than the S&P 500's performance. Consistent with the plunge in the stock price, the company's earnings per share are down 9733.33% compared to the year-earlier quarter. Naturally, the overall market trend is bound to be a significant factor. However, in one sense, the stock's sharp decline last year is a positive for future investors, making it cheaper (in proportion to its earnings over the past year) than most other stocks in its industry. But due to other concerns, we feel the stock is still not a good buy right now.
• PENN VIRGINIA CORP has experienced a steep decline in earnings per share in the most recent quarter in comparison to its performance from the same quarter a year ago. The company has reported a trend of declining earnings per share over the past two years. However, the consensus estimate suggests that this trend should reverse in the coming year. During the past fiscal year, PENN VIRGINIA CORP reported poor results of -$6.40 versus -$2.36 in the prior year. This year, the market expects an improvement in earnings (-$1.09 versus -$6.40).
• You can view the full analysis from the report here: PVA Ratings Report