Penn Virginia Co. (NASDAQ:PVAC) has been given a consensus recommendation of “Hold” by the seven research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $55.67.
Several analysts have recently weighed in on PVAC shares. Zacks Investment Research raised shares of Penn Virginia from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a report on Tuesday, January 9th. Northland Securities set a $57.00 price objective on shares of Penn Virginia and gave the stock a “buy” rating in a report on Monday, December 11th. SunTrust Banks started coverage on shares of Penn Virginia in a report on Wednesday, November 29th. They set a “buy” rating and a $50.00 price objective for the company. Finally, BidaskClub raised shares of Penn Virginia from a “hold” rating to a “buy” rating in a report on Thursday, January 11th.
In related news, insider Harry Quarls purchased 5,000 shares of the firm’s stock in a transaction dated 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. grew its stake in shares of Penn Virginia by 212.5% during the second 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. TIAA CREF Investment Management LLC bought a new position in Penn Virginia in the second quarter valued at approximately $1,403,000. Teachers Advisors LLC bought a new position in Penn Virginia in the second quarter valued at approximately $929,000. Voya Investment Management LLC bought a new position in Penn Virginia in the second quarter valued at approximately $252,000. Finally, Dimensional Fund Advisors LP boosted its stake in Penn Virginia by 183.8% in the second quarter. Dimensional Fund Advisors LP now owns 25,548 shares of the company’s stock valued at $939,000 after acquiring an additional 16,547 shares during the last quarter. 66.05% of the stock is currently owned by institutional investors and hedge funds.
Penn Virginia (PVAC) traded up $0.15 during midday trading on Monday, hitting $37.68. 106,300 shares of the stock traded hands, compared to its average volume of 120,612. The firm has a market capitalization of $565.36, a price-to-earnings ratio of 13.55 and a beta of 1.19. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.06. Penn Virginia has a 12 month low of $31.00 and a 12 month high of $50.00.
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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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