Penn Virginia (PVAC) Earns Buy Rating from Analysts at LADENBURG THALM/SH SH
Investment analysts at LADENBURG THALM/SH SH began coverage on shares of Penn Virginia (NASDAQ:PVAC) in a note issued to investors on Tuesday, Marketbeat.com reports. The firm set a “buy” rating on the stock.
Other equities analysts also recently issued reports about the company. SunTrust Banks raised their price objective on Penn Virginia to $75.00 and gave the company an “average” rating in a research note on Thursday, May 10th. BidaskClub raised Penn Virginia from a “hold” rating to a “buy” rating in a research note on Friday, May 11th. Finally, Zacks Investment Research downgraded Penn Virginia from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 9th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $63.33.
NASDAQ PVAC traded down $1.92 during mid-day trading on Tuesday, hitting $77.08. The stock had a trading volume of 293,993 shares, compared to its average volume of 281,919. Penn Virginia has a 52-week low of $31.00 and a 52-week high of $81.60. The company has a market capitalization of $1.19 billion, a P/E ratio of 26.76 and a beta of 1.73. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.52 and a quick ratio of 0.52.
In related news, VP Tammy Hinkle sold 778 shares of the firm’s stock in a transaction that occurred on Friday, May 11th. The stock was sold at an average price of $61.46, for a total value of $47,815.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Diversified Asset Manageme Kls sold 174,411 shares of the firm’s stock in a transaction on Wednesday, May 23rd. The stock was sold at an average price of $66.45, for a total value of $11,589,610.95. The disclosure for this sale can be found here. Insiders sold a total of 458,915 shares of company stock valued at $29,137,647 over the last ninety days. 0.41% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in PVAC. Strategic Value Partners LLC purchased a new position in Penn Virginia during the fourth quarter worth $60,002,000. Encompass Capital Advisors LLC purchased a new position in Penn Virginia during the fourth quarter worth $29,215,000. Allianz Asset Management GmbH increased its position in Penn Virginia by 1,725.9% during the fourth quarter. Allianz Asset Management GmbH now owns 193,769 shares of the company’s stock worth $7,579,000 after buying an additional 183,157 shares in the last quarter. BlackRock Inc. increased its position in Penn Virginia by 22.8% during the first quarter. BlackRock Inc. now owns 928,772 shares of the company’s stock worth $32,545,000 after buying an additional 172,288 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Penn Virginia by 81.1% during the first quarter. Dimensional Fund Advisors LP now owns 338,041 shares of the company’s stock worth $11,845,000 after buying an additional 151,350 shares in the last quarter. 88.78% of the stock is owned by institutional investors.
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. It primarily operates wells in the Eagle Ford Shale field in South Texas. The company also has operations in the Granite Wash in Oklahoma.
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