Penn Virginia Corporation (NASDAQ:PVAC) has earned a consensus broker rating score of 1.67 (Buy) from the three analysts that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating and two have assigned a strong buy rating to the company.
Brokerages have set a 1-year consensus target price of $54.33 for the company, according to Zacks. Zacks has also given Penn Virginia Corporation an industry rank of 71 out of 265 based on the ratings given to its competitors.
A number of equities analysts have recently commented on PVAC shares. Zacks Investment Research lowered shares of Penn Virginia Corporation from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 7th. Northland Securities reaffirmed a “buy” rating and set a $63.00 target price on shares of Penn Virginia Corporation in a research report on Tuesday, September 5th. Finally, Capital One Financial Corporation lowered shares of Penn Virginia Corporation from an “overweight” rating to an “equal weight” rating in a research report on Friday, July 7th.
Penn Virginia Corporation (PVAC) traded up 6.01% during midday trading on Friday, reaching $40.58. 45,372 shares of the company were exchanged. The firm’s 50-day moving average is $40.25 and its 200-day moving average is $40.25. Penn Virginia Corporation has a one year low of $35.06 and a one year high of $61.97. The firm has a market cap of $608.38 million and a P/E ratio of 1.86.
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In related news, insider Harry Quarls bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The shares were acquired at an average price of $38.73 per share, with a total value of $193,650.00. Following the completion of the transaction, the insider now owns 28,227 shares of the company’s stock, valued at approximately $1,093,231.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Hedge funds have recently made changes to their positions in the stock. Citigroup Inc. bought a new position in Penn Virginia Corporation during the second quarter worth $822,000. Bank of New York Mellon Corp bought a new position in Penn Virginia Corporation during the second quarter worth $1,590,000. Martingale Asset Management L P bought a new position in Penn Virginia Corporation during the second quarter worth $721,000. Franklin Resources Inc. increased its position in Penn Virginia Corporation by 126.3% during the second quarter. Franklin Resources Inc. now owns 585,251 shares of the company’s stock worth $21,508,000 after acquiring an additional 326,598 shares during the period. Finally, Mangrove Partners increased its position in Penn Virginia Corporation by 16.2% during the second quarter. Mangrove Partners now owns 1,410,777 shares of the company’s stock worth $51,846,000 after acquiring an additional 196,390 shares during the period. 63.88% of the stock is currently owned by institutional investors and hedge funds.
About Penn Virginia Corporation
Penn Virginia Corporation, an independent oil and gas company, engages in the onshore exploration, development, and production of crude oil, natural gas liquids, and natural gas in 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.
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