Penn Virginia (NASDAQ:PVAC) was upgraded by investment analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a note issued to investors on Wednesday, December 20th.
A number of other brokerages also recently commented on PVAC. Northland Securities reissued a “buy” rating and issued a $63.00 price objective on shares of Penn Virginia in a research report on Thursday, October 12th. Zacks Investment Research downgraded shares of Penn Virginia from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 7th. Finally, SunTrust Banks assumed coverage on shares of Penn Virginia in a research report on Wednesday, November 29th. They issued a “buy” rating and a $50.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $52.75.
Shares of Penn Virginia (NASDAQ PVAC) traded up $1.75 during trading hours on Wednesday, hitting $46.60. 116,096 shares of the company’s stock were exchanged, compared to its average volume of 133,412. Penn Virginia has a 52 week low of $31.00 and a 52 week high of $52.70. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market cap of $675.34 and a P/E ratio of 16.13.
Several institutional investors have recently modified their holdings of the company. Mangrove Partners boosted its holdings in shares of Penn Virginia by 16.2% in the 2nd quarter. Mangrove Partners now owns 1,410,777 shares of the company’s stock valued at $51,846,000 after buying an additional 196,390 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Penn Virginia by 126.3% in the 2nd quarter. Franklin Resources Inc. now owns 585,251 shares of the company’s stock valued at $21,508,000 after buying an additional 326,598 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Penn Virginia by 1.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 316,142 shares of the company’s stock valued at $11,618,000 after buying an additional 3,811 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Penn Virginia by 1,626.0% in the 2nd quarter. Vanguard Group Inc. now owns 273,605 shares of the company’s stock valued at $10,055,000 after buying an additional 257,753 shares in the last quarter. Finally, State Street Corp acquired a new position in shares of Penn Virginia in the 2nd quarter valued at $8,130,000. Institutional investors and hedge funds own 66.18% of the company’s stock.
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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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