Penn Virginia (NASDAQ:PVAC) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.
Several other brokerages also recently commented on PVAC. Northland Securities set a $63.00 target price on shares of Penn Virginia and gave the stock a “buy” rating in a research note on Wednesday, January 3rd. Zacks Investment Research downgraded shares of Penn Virginia from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 4th. Finally, SunTrust Banks started coverage on shares of Penn Virginia in a research note on Wednesday, November 29th. They issued a “buy” rating and a $50.00 target price on the stock. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $52.75.
Penn Virginia (NASDAQ:PVAC) opened at $44.85 on Thursday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.06. Penn Virginia has a one year low of $31.00 and a one year high of $53.00. The company has a market cap of $675.34 and a price-to-earnings ratio of 16.13.
In related news, insider Harry Quarls acquired 5,000 shares of Penn Virginia stock in a transaction on Thursday, November 30th. The shares were acquired at an average cost of $34.64 per share, with a total value of $173,200.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
A number of institutional investors have recently modified their holdings of PVAC. Legal & General Group Plc purchased a new position in Penn Virginia during the 2nd quarter valued at $104,000. SG Americas Securities LLC purchased a new position in Penn Virginia during the 3rd quarter valued at $181,000. Voya Investment Management LLC purchased a new position in Penn Virginia during the 2nd quarter valued at $252,000. Nationwide Fund Advisors purchased a new position in Penn Virginia during the 2nd quarter valued at $297,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Penn Virginia during the 3rd quarter valued at $381,000. 66.18% of the stock is currently owned by institutional investors and hedge funds.
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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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