Penn Virginia Corporation (PVAC) Stake Lifted by Northern Trust Corp
Northern Trust Corp lifted its position in shares of Penn Virginia Corporation (NASDAQ:PVAC) by 3,117.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 142,283 shares of the company’s stock after acquiring an additional 137,861 shares during the quarter. Northern Trust Corp owned 0.95% of Penn Virginia Corporation worth $5,229,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. Citigroup Inc. acquired a new position in shares of Penn Virginia Corporation during the second quarter worth about $822,000. New York State Common Retirement Fund acquired a new position in Penn Virginia Corporation during the second quarter worth about $562,000. Nationwide Fund Advisors acquired a new position in Penn Virginia Corporation during the second quarter worth about $297,000. TIAA CREF Investment Management LLC acquired a new position in Penn Virginia Corporation during the second quarter worth about $1,403,000. Finally, Teachers Advisors LLC acquired a new position in Penn Virginia Corporation during the second quarter worth about $929,000. Institutional investors and hedge funds own 64.38% of the company’s stock.
PVAC has been the topic of several recent analyst reports. Northland Securities restated a “buy” rating and set a $63.00 target price on shares of Penn Virginia Corporation in a research report on Tuesday, September 5th. Zacks Investment Research upgraded shares of Penn Virginia Corporation from a “hold” rating to a “strong-buy” rating and set a $44.00 target price on the stock in a research report on Tuesday, August 15th. Finally, Capital One Financial Corporation upgraded shares of Penn Virginia Corporation from an “equal weight” rating to an “overweight” rating in a research report on Monday, July 31st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $52.00.
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In related news, insider Harry Quarls bought 5,000 shares of the stock in a transaction on Monday, November 13th. The shares were bought at an average cost of $38.72 per share, for a total transaction of $193,600.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Penn Virginia Corporation (NASDAQ:PVAC) opened at $37.24 on Friday. 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 Corporation has a 1 year low of $31.00 and a 1 year high of $61.97. The firm has a market cap of $567.61 and a PE ratio of 15.57.
Penn Virginia Corporation Profile
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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