Tyers Asset Management LLC Purchases Shares of 1,008 Penn Virginia Co. (NASDAQ:PVAC)
Tyers Asset Management LLC bought a new position in Penn Virginia Co. (NASDAQ:PVAC) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,008 shares of the company’s stock, valued at approximately $31,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Westwood Holdings Group Inc. raised its stake in shares of Penn Virginia by 19.9% during the first quarter. Westwood Holdings Group Inc. now owns 791,256 shares of the company’s stock worth $34,894,000 after buying an additional 131,478 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Penn Virginia by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 554,019 shares of the company’s stock worth $29,951,000 after purchasing an additional 4,421 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Penn Virginia by 22.7% during the second quarter. Wells Fargo & Company MN now owns 385,591 shares of the company’s stock worth $11,830,000 after purchasing an additional 71,230 shares during the last quarter. Alpine Associates Management Inc. boosted its holdings in Penn Virginia by 29.8% during the first quarter. Alpine Associates Management Inc. now owns 312,762 shares of the company’s stock worth $13,792,000 after purchasing an additional 71,862 shares during the last quarter. Finally, Caymus Capital Partners L.P. acquired a new position in Penn Virginia during the second quarter worth $9,577,000. 98.22% of the stock is owned by institutional investors.
Several brokerages recently commented on PVAC. Zacks Investment Research upgraded shares of Penn Virginia from a “sell” rating to a “hold” rating in a report on Tuesday, September 10th. Northland Securities restated a “buy” rating and set a $60.00 target price on shares of Penn Virginia in a report on Thursday, August 8th. Capital One Financial upgraded shares of Penn Virginia from an “equal weight” rating to an “overweight” rating in a report on Thursday, May 23rd. Finally, BidaskClub upgraded shares of Penn Virginia from a “strong sell” rating to a “sell” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $75.00.
NASDAQ PVAC traded down $1.60 on Friday, hitting $32.59. 295,280 shares of the stock were exchanged, compared to its average volume of 169,906. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.64 and a quick ratio of 0.64. The business’s fifty day moving average is $30.92 and its 200 day moving average is $37.42. Penn Virginia Co. has a 52 week low of $27.33 and a 52 week high of $88.21. The company has a market capitalization of $516.52 million, a PE ratio of 3.60 and a beta of 1.41.
Penn Virginia (NASDAQ:PVAC) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.95 by $0.01. Penn Virginia had a net margin of 47.90% and a return on equity of 37.14%. The firm had revenue of $122.77 million for the quarter, compared to analyst estimates of $122.43 million. Analysts predict that Penn Virginia Co. will post 8.21 EPS for the current fiscal year.
Penn Virginia 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. It primarily operates wells in the Eagle Ford Shale field in South Texas. As of December 31, 2018, it had total proved reserves of approximately 123 million barrels of oil equivalent; and 460 gross productive wells, as well as owned approximately 98,200 gross acres of leasehold and royalty interests.
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