Dimensional Fund Advisors LP boosted its holdings in shares of Penn Virginia Corporation (NASDAQ:PVAC) by 183.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,548 shares of the company’s stock after buying an additional 16,547 shares during the period. Dimensional Fund Advisors LP owned approximately 0.17% of Penn Virginia worth $939,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently bought and sold shares of PVAC. Strs Ohio purchased a new stake in Penn Virginia during the 2nd quarter valued at about $183,000. Schwab Charles Investment Management Inc. grew its stake in Penn Virginia by 212.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 35,166 shares of the company’s stock valued at $1,293,000 after purchasing an additional 23,914 shares during the last quarter. Rhumbline Advisers purchased a new stake in Penn Virginia during the 2nd quarter valued at about $525,000. Bank of New York Mellon Corp purchased a new stake in Penn Virginia during the 2nd quarter valued at about $1,590,000. Finally, Legal & General Group Plc purchased a new stake in Penn Virginia during the 2nd quarter valued at about $104,000. Institutional investors and hedge funds own 66.18% of the company’s stock.
In related news, insider Harry Quarls bought 5,000 shares of the stock in a transaction dated Monday, November 13th. The shares were purchased at an average price of $38.72 per share, for a total transaction of $193,600.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Penn Virginia Corporation (NASDAQ:PVAC) opened at $34.38 on Friday. Penn Virginia Corporation has a one year low of $31.00 and a one year high of $61.97. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $515.84 and a PE ratio of 14.15.
Several analysts have weighed in on the company. SunTrust Banks assumed coverage on Penn Virginia in a research note on Wednesday. They set a “buy” rating and a $50.00 price target on the stock. Northland Securities reiterated a “buy” rating and set a $63.00 price target on shares of Penn Virginia in a research note on Thursday, October 12th. Finally, Zacks Investment Research upgraded Penn Virginia from a “hold” rating to a “strong-buy” rating and set a $44.00 price target on the stock in a research note on Tuesday, August 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $51.50.
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About Penn Virginia
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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