Penn Virginia (PVAC) Upgraded to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Penn Virginia (NASDAQ:PVAC) from a hold rating to a buy rating in a research note published on Tuesday. They currently have $49.00 price target on the stock.
According to Zacks, “Penn Virginia Corporation is an oil and gas company. It engaged in exploration, development and production of oil, NGLs and natural gas. The company operates primarily in Eagle Ford Shale in South Texas and Oklahoma. Penn Virginia Corporation is headquatered in Houston, Texas. “
A number of other research firms have also commented on PVAC. Northland Securities set a $63.00 price objective on Penn Virginia and gave the stock a buy rating in a research note on Wednesday, January 3rd. BidaskClub raised Penn Virginia from a sell rating to a hold rating in a research note on Saturday, December 30th. Finally, SunTrust Banks initiated coverage on Penn Virginia in a research note on Wednesday, November 29th. They issued a buy rating and a $50.00 price objective on the stock. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Penn Virginia presently has a consensus rating of Buy and a consensus price target of $52.75.
In other Penn Virginia news, insider Harry Quarls bought 5,000 shares of the stock in a transaction on Monday, November 13th. The stock was acquired at an average cost of $38.72 per share, for a total transaction of $193,600.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
A number of hedge funds have recently modified their holdings of the business. Highbridge Capital Management LLC bought a new stake in Penn Virginia in the third quarter worth approximately $414,000. Allianz Asset Management GmbH bought a new stake in shares of Penn Virginia during the third quarter valued at approximately $424,000. Dimensional Fund Advisors LP increased its holdings in shares of Penn Virginia by 257.7% during the third quarter. Dimensional Fund Advisors LP now owns 91,389 shares of the company’s stock valued at $3,654,000 after acquiring an additional 65,841 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of Penn Virginia by 50.1% during the third quarter. Schwab Charles Investment Management Inc. now owns 52,800 shares of the company’s stock valued at $2,111,000 after acquiring an additional 17,634 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of Penn Virginia by 53.0% during the third quarter. Wells Fargo & Company MN now owns 16,125 shares of the company’s stock valued at $644,000 after acquiring an additional 5,588 shares in the last quarter. 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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