Penn Virginia Shares Plunged: What You Need to Know

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of oil and gas explorer Penn Virginia (NYS: PVA) fell as much as 13.5% before closing down 10% after reporting disappointing second quarter results on Wednesday night.

So what: Both revenue and earnings fell short of expectations. Penn Virginia lost $0.26 after accounting for a variety of adjustments on $73 million in revenue. Analysts had been looking for a $0.25 loss on $74.2 million in sales.

Now what:We'veheard this record before. Penn Virginia misses estimates so consistently you could set a clock to it. It's hard to believe that, as a group, the 215 Fools who've rated the stock in Motley Fool CAPS give it four of five stars. How do you rate Penn Virginia? Weigh in using the comments box below.

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At the time thisarticle was published Fool contributorTim Beyersis a member of theMotley Fool Rule Breakersstock-picking team. He didn't own shares in any of the companies mentioned in this article at the time of publication. Check out Tim'sportfolio holdingsandFoolish writings, or connect with him onGoogle+or Twitter, where he goes by@milehighfool. You can also get his insightsdelivered directly to your RSS reader.Try any of our Foolish newsletter servicesfree for 30 days. We Fools don't all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. The Motley Fool has adisclosure policy.

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