Penn Virginia Co. (PVAC) Receives Average Rating of “Hold” from Brokerages

Shares of Penn Virginia Co. (NASDAQ:PVAC) have been given an average rating of “Hold” by the seven brokerages that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $55.67.

A number of equities analysts have issued reports on PVAC shares. Zacks Investment Research upgraded Penn Virginia from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a report on Tuesday, January 9th. Northland Securities set a $57.00 price target on Penn Virginia and gave the stock a “buy” rating in a report on Monday, December 11th. SunTrust Banks started coverage on Penn Virginia in a report on Wednesday, November 29th. They set a “buy” rating and a $50.00 price target on the stock. Finally, BidaskClub upgraded Penn Virginia from a “hold” rating to a “buy” rating in a report on Thursday, January 11th.

In other news, insider Harry Quarls bought 5,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were bought at an average cost of $34.64 per share, for a total transaction of $173,200.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Legal & General Group Plc bought a new position in shares of Penn Virginia in the 2nd quarter worth $104,000. SG Americas Securities LLC bought a new position in shares of Penn Virginia in the 3rd quarter worth $181,000. Wells Fargo & Company MN lifted its holdings in shares of Penn Virginia by 30.2% in the 4th quarter. Wells Fargo & Company MN now owns 20,996 shares of the company’s stock worth $821,000 after purchasing an additional 4,871 shares in the last quarter. Voya Investment Management LLC bought a new position in shares of Penn Virginia in the 2nd quarter worth $252,000. Finally, Nationwide Fund Advisors bought a new position in shares of Penn Virginia in the 2nd quarter worth $297,000. Institutional investors own 66.26% of the company’s stock.

Penn Virginia (NASDAQ:PVAC) opened at $37.15 on Monday. The stock has a market capitalization of $557.40, a P/E ratio of 13.36 and a beta of 1.19. Penn Virginia has a twelve month low of $31.00 and a twelve month high of $50.00. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.06.

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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.

Analyst Recommendations for Penn Virginia (NASDAQ:PVAC)

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