Penn Virginia (NASDAQ:PVAC) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a report released on Thursday.
A number of other brokerages have also recently commented on PVAC. Northland Securities set a $63.00 target price on shares of Penn Virginia and gave the company a “buy” rating in a report on Wednesday, January 3rd. Zacks Investment Research cut shares of Penn Virginia from a “hold” rating to a “strong sell” rating in a report on Thursday, January 4th. Finally, 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 target price on the stock. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Penn Virginia presently 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 current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.06. The stock has a market cap of $675.34 and a price-to-earnings ratio of 16.13. Penn Virginia has a 1 year low of $31.00 and a 1 year high of $53.00.
A number of institutional investors have recently made changes to their positions in the stock. Mangrove Partners boosted its stake in Penn Virginia by 16.2% in the 2nd quarter. Mangrove Partners now owns 1,410,777 shares of the company’s stock worth $51,846,000 after purchasing an additional 196,390 shares in the last quarter. Franklin Resources Inc. boosted its stake in Penn Virginia by 126.3% in the 2nd quarter. Franklin Resources Inc. now owns 585,251 shares of the company’s stock worth $21,508,000 after purchasing an additional 326,598 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Penn Virginia by 1.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 316,142 shares of the company’s stock worth $11,618,000 after purchasing an additional 3,811 shares in the last quarter. Vanguard Group Inc. boosted its stake in Penn Virginia by 1,626.0% in the 2nd quarter. Vanguard Group Inc. now owns 273,605 shares of the company’s stock worth $10,055,000 after purchasing an additional 257,753 shares in the last quarter. Finally, State Street Corp bought a new position in Penn Virginia in the 2nd quarter worth about $8,130,000. Institutional investors 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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