Penn Virginia Co. (NASDAQ:PVAC) has been given a consensus recommendation of “Buy” by the seven analysts that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $54.00.
Several brokerages have recently issued reports on PVAC. Zacks Investment Research cut shares of Penn Virginia from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. BidaskClub raised shares of Penn Virginia from a “hold” rating to a “buy” rating in a research note on Thursday, January 11th. Northland Securities set a $63.00 price objective on shares of Penn Virginia and gave the stock a “buy” rating in a research note on Wednesday, January 3rd. Finally, SunTrust Banks began coverage on shares of Penn Virginia in a research note on Wednesday, November 29th. They issued a “buy” rating and a $50.00 price objective on the stock.
Penn Virginia (NASDAQ:PVAC) traded down $0.10 during trading on Thursday, reaching $46.22. 72,847 shares of the company’s stock traded hands, compared to its average volume of 107,392. The firm has a market cap of $693.48 and a PE ratio of 19.02. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.85 and a current ratio of 0.85. Penn Virginia has a 52-week low of $31.00 and a 52-week high of $52.58.
Penn Virginia (NASDAQ:PVAC) last released its earnings results on Wednesday, November 8th. The company reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.04. Penn Virginia had a net margin of 30.22% and a return on equity of 16.76%. equities research analysts anticipate that Penn Virginia will post 2.73 earnings per share for the current year.
In other Penn Virginia news, insider Harry Quarls acquired 5,000 shares of the stock in a transaction dated Thursday, November 30th. The shares were bought at an average price 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 through this hyperlink.
Several institutional investors have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. increased its position in shares of Penn Virginia by 23.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 65,092 shares of the company’s stock worth $2,546,000 after acquiring an additional 12,292 shares in the last quarter. Highbridge Capital Management LLC purchased a new position in shares of Penn Virginia in the third quarter worth approximately $414,000. Allianz Asset Management GmbH purchased a new position in shares of Penn Virginia in the third quarter worth approximately $424,000. Dimensional Fund Advisors LP increased its position in shares of Penn Virginia by 257.7% in the third quarter. Dimensional Fund Advisors LP now owns 91,389 shares of the company’s stock worth $3,654,000 after acquiring an additional 65,841 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Penn Virginia by 53.0% in the third quarter. Wells Fargo & Company MN now owns 16,125 shares of the company’s stock worth $644,000 after acquiring an additional 5,588 shares in the last quarter. 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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