Penn Virginia (NASDAQ:PVAC) Trading Up 5.2%

Shares of Penn Virginia Co. (NASDAQ:PVAC) were up 5.2% during mid-day trading on Wednesday . The company traded as high as $25.92 and last traded at $25.61, approximately 246,775 shares traded hands during trading. An increase of 12% from the average daily volume of 220,039 shares. The stock had previously closed at $24.35.

A number of research analysts have issued reports on PVAC shares. ValuEngine lowered Penn Virginia from a “buy” rating to a “hold” rating in a research report on Tuesday. Northland Securities reiterated a “buy” rating and set a $54.00 price target on shares of Penn Virginia in a research report on Friday, November 8th. BidaskClub lowered Penn Virginia from a “sell” rating to a “strong sell” rating in a research report on Saturday, November 16th. Finally, Zacks Investment Research upgraded Penn Virginia from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. Penn Virginia has an average rating of “Hold” and a consensus target price of $60.50.

The company has a debt-to-equity ratio of 1.09, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $365.22 million, a price-to-earnings ratio of 2.79 and a beta of 1.36. The company has a fifty day moving average price of $25.84 and a two-hundred day moving average price of $29.47.

Penn Virginia (NASDAQ:PVAC) last announced its quarterly earnings data on Thursday, November 7th. The company reported $1.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.89 by $0.08. The business had revenue of $119.30 million during the quarter, compared to analyst estimates of $121.18 million. Penn Virginia had a return on equity of 29.06% and a net margin of 56.77%. On average, research analysts expect that Penn Virginia Co. will post 8 earnings per share for the current fiscal year.

In other news, CFO Steven A. Hartman sold 18,586 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $32.98, for a total value of $612,966.28. Corporate insiders own 0.36% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Tyers Asset Management LLC acquired a new stake in shares of Penn Virginia in the second quarter valued at $31,000. Riverhead Capital Management LLC purchased a new stake in shares of Penn Virginia during the second quarter valued at $34,000. Elkfork Partners LLC purchased a new stake in shares of Penn Virginia during the second quarter valued at $43,000. Meadow Creek Investment Management LLC purchased a new stake in shares of Penn Virginia during the second quarter valued at $54,000. Finally, Glen Harbor Capital Management LLC purchased a new stake in shares of Penn Virginia during the second quarter valued at $66,000. Institutional investors and hedge funds own 98.22% of the company’s stock.

Penn Virginia Company Profile (NASDAQ:PVAC)

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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