Penn Virginia (NASDAQ:PVAC) was upgraded by stock analysts at Northland Securities from a “market perform” rating to an “outperform” rating in a report released on Thursday, Marketbeat Ratings reports. The analysts noted that the move was a valuation call.

Several other research analysts have also issued reports on PVAC. Zacks Investment Research lowered shares of Penn Virginia from a “hold” rating to a “sell” rating in a research note on Wednesday, December 19th. BidaskClub lowered shares of Penn Virginia from a “hold” rating to a “sell” rating in a research note on Saturday, December 22nd. ValuEngine upgraded shares of Penn Virginia from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 2nd. Finally, Capital One Financial lowered shares of Penn Virginia from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, January 9th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $105.33.

Shares of NASDAQ:PVAC traded down $2.79 during mid-day trading on Thursday, reaching $51.51. 478,251 shares of the company’s stock were exchanged, compared to its average volume of 127,751. The firm has a market cap of $820.22 million, a PE ratio of 5.61 and a beta of 0.99. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.21 and a current ratio of 1.21. Penn Virginia has a twelve month low of $32.91 and a twelve month high of $96.13.

Penn Virginia (NASDAQ:PVAC) last issued its quarterly earnings results on Wednesday, February 27th. The company reported $2.56 EPS for the quarter, missing analysts’ consensus estimates of $3.62 by ($1.06). Penn Virginia had a return on equity of 48.83% and a net margin of 50.99%. Sell-side analysts forecast that Penn Virginia will post 10.02 EPS for the current year.

In other news, major shareholder Mangrove Partners Master Fund, purchased 30,000 shares of the stock in a transaction on Thursday, January 3rd. The shares were acquired at an average price of $55.40 per share, with a total value of $1,662,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.41% of the stock is owned by insiders.

A number of large investors have recently modified their holdings of the business. PNC Financial Services Group Inc. increased its holdings in shares of Penn Virginia by 429.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 678 shares of the company’s stock valued at $37,000 after acquiring an additional 550 shares in the last quarter. Riverhead Capital Management LLC purchased a new stake in shares of Penn Virginia in the third quarter valued at $113,000. United Services Automobile Association purchased a new stake in shares of Penn Virginia in the third quarter valued at $222,000. Teachers Retirement System of The State of Kentucky lifted its position in shares of Penn Virginia by 244.4% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 3,100 shares of the company’s stock valued at $250,000 after acquiring an additional 2,200 shares in the last quarter. Finally, LS Investment Advisors LLC lifted its position in shares of Penn Virginia by 715.0% in the fourth quarter. LS Investment Advisors LLC now owns 3,260 shares of the company’s stock valued at $176,000 after acquiring an additional 2,860 shares in the last quarter. 99.03% of the stock is currently owned by institutional investors and hedge funds.

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.

Further Reading: Strangles

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