Penn Virginia Corporation (NASDAQ:PVAC)‘s stock had its “buy” rating reiterated by Northland Securities in a research report issued to clients and investors on Friday. They presently have a $63.00 price target on the stock. Northland Securities’ price objective suggests a potential upside of 62.71% from the company’s current price.
Other equities analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Penn Virginia Corporation from a “hold” rating to a “strong-buy” rating and set a $44.00 price target for the company in a research note on Tuesday, August 15th. Capital One Financial Corporation raised shares of Penn Virginia Corporation from an “equal weight” rating to an “overweight” rating in a research note on Monday, July 31st. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Penn Virginia Corporation currently has an average rating of “Buy” and a consensus price target of $52.00.
Shares of Penn Virginia Corporation (NASDAQ PVAC) traded down $0.07 during trading hours on Friday, reaching $38.72. 108,100 shares of the company traded hands, compared to its average volume of 77,098. The company has a market cap of $580.95 and a P/E ratio of 15.93. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.99 and a current ratio of 0.99. Penn Virginia Corporation has a fifty-two week low of $15.00 and a fifty-two week high of $61.97.
In other Penn Virginia Corporation news, insider Harry Quarls purchased 5,000 shares of the company’s stock in a transaction dated Thursday, August 17th. The stock was purchased at an average price of $38.73 per share, with a total value of $193,650.00. Following the completion of the purchase, the insider now owns 28,227 shares of the company’s stock, valued at $1,093,231.71. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Mangrove Partners increased its position in shares of Penn Virginia Corporation by 16.2% during the second quarter. Mangrove Partners now owns 1,410,777 shares of the company’s stock worth $51,846,000 after buying an additional 196,390 shares during the period. Franklin Resources Inc. increased its position in shares of Penn Virginia Corporation by 126.3% during the second quarter. Franklin Resources Inc. now owns 585,251 shares of the company’s stock worth $21,508,000 after buying an additional 326,598 shares during the period. JPMorgan Chase & Co. increased its position in shares of Penn Virginia Corporation by 1.2% during the second quarter. JPMorgan Chase & Co. now owns 316,142 shares of the company’s stock worth $11,618,000 after buying an additional 3,811 shares during the period. Vanguard Group Inc. increased its position in shares of Penn Virginia Corporation by 1,626.0% during the second quarter. Vanguard Group Inc. now owns 273,605 shares of the company’s stock worth $10,055,000 after buying an additional 257,753 shares during the period. Finally, State Street Corp acquired a new stake in shares of Penn Virginia Corporation during the second quarter worth $8,130,000. Institutional investors own 63.98% of the company’s stock.
About Penn Virginia Corporation
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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