NEW YORK (TheStreet) -- Penn Virginia Corp. (PVA), an independent oil and gas company, reported an increase in its adjusted EBITDAX for the 2014 first quarter to $93.8 million for the 2014 first quarter, from $60.3 million from the year-ago quarter.
The company reported net income of $17.5 million, or 22 cents per diluted share, compared to a net loss of -$18.1 million, or 33 cents per diluted share from the same period last year.
Shares of Penn Virginia closed lower -1.66% to $16.01 on Monday.
TheStreet Ratings team rates PENN VIRGINIA CORP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate PENN VIRGINIA CORP (PVA) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and increase in net income. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk, disappointing return on equity and weak operating cash flow."