Strategic Value Partners LLC bought a new stake in shares of Penn Virginia Co. (NASDAQ:PVAC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,534,180 shares of the company’s stock, valued at approximately $60,002,000. Penn Virginia accounts for approximately 7.2% of Strategic Value Partners LLC’s portfolio, making the stock its 4th biggest holding. Strategic Value Partners LLC owned about 10.23% of Penn Virginia as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the company. Mangrove Partners lifted its position in shares of Penn Virginia by 1.9% during the 4th quarter. Mangrove Partners now owns 1,437,243 shares of the company’s stock worth $56,211,000 after buying an additional 26,466 shares during the last quarter. BlackRock Inc. lifted its position in shares of Penn Virginia by 7.9% during the 4th quarter. BlackRock Inc. now owns 756,484 shares of the company’s stock worth $29,586,000 after buying an additional 55,664 shares during the last quarter. Encompass Capital Advisors LLC bought a new stake in shares of Penn Virginia during the 4th quarter worth $29,215,000. Vanguard Group Inc. lifted its position in shares of Penn Virginia by 1,626.0% during the 2nd quarter. Vanguard Group Inc. now owns 273,605 shares of the company’s stock worth $10,055,000 after buying an additional 257,753 shares during the last quarter. Finally, State Street Corp bought a new stake in shares of Penn Virginia during the 2nd quarter worth $8,130,000. Hedge funds and other institutional investors own 89.18% of the company’s stock.
Penn Virginia Co. (NASDAQ:PVAC) opened at $36.07 on Wednesday. Penn Virginia Co. has a fifty-two week low of $31.00 and a fifty-two week high of $50.00. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market capitalization of $548.76, a PE ratio of 11.84 and a beta of 1.56.
Several brokerages recently weighed in on PVAC. BidaskClub upgraded Penn Virginia from a “hold” rating to a “buy” rating in a research report on Thursday, January 11th. Zacks Investment Research cut Penn Virginia from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. Northland Securities set a $63.00 target price on Penn Virginia and gave the stock a “buy” rating in a report on Wednesday, January 3rd. Finally, SunTrust Banks set a $55.00 target price on Penn Virginia and gave the stock a “buy” rating in a report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $54.75.
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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. 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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