Walthausen & Co. LLC Lowers Stock Position in Penn Virginia Co. (NASDAQ:PVAC)

Walthausen & Co. LLC cut its holdings in shares of Penn Virginia Co. (NASDAQ:PVAC) by 52.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,346 shares of the company’s stock after selling 52,860 shares during the period. Walthausen & Co. LLC owned 0.32% of Penn Virginia worth $1,467,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Swiss National Bank grew its holdings in shares of Penn Virginia by 2.5% in the fourth quarter. Swiss National Bank now owns 20,200 shares of the company’s stock valued at $613,000 after purchasing an additional 500 shares during the period. CFM Wealth Partners LLC acquired a new position in shares of Penn Virginia in the 4th quarter valued at approximately $26,000. Bank of America Corp DE raised its position in shares of Penn Virginia by 1.9% in the 4th quarter. Bank of America Corp DE now owns 53,866 shares of the company’s stock valued at $1,635,000 after purchasing an additional 982 shares in the last quarter. Montgomery Investment Management Inc. raised its position in shares of Penn Virginia by 6.3% in the 4th quarter. Montgomery Investment Management Inc. now owns 16,900 shares of the company’s stock valued at $513,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of Penn Virginia in the 4th quarter valued at approximately $32,000.

In other news, major shareholder Strategic Value Partners, Llc sold 100,617 shares of Penn Virginia stock in a transaction on Friday, February 7th. The shares were sold at an average price of $20.55, for a total transaction of $2,067,679.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.36% of the company’s stock.

Penn Virginia stock traded up $0.74 during trading hours on Thursday, reaching $3.64. 1,459,200 shares of the company’s stock were exchanged, compared to its average volume of 405,536. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.07. The firm’s 50 day simple moving average is $11.86 and its 200 day simple moving average is $23.60. Penn Virginia Co. has a twelve month low of $0.99 and a twelve month high of $48.36. The firm has a market capitalization of $41.68 million, a PE ratio of 0.78 and a beta of 1.72.

Penn Virginia (NASDAQ:PVAC) last released its quarterly earnings data on Thursday, February 27th. The company reported $2.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.92 by $0.83. Penn Virginia had a net margin of 15.00% and a return on equity of 28.43%. The company had revenue of $123.20 million for the quarter, compared to analysts’ expectations of $121.39 million. Analysts anticipate that Penn Virginia Co. will post 6.82 EPS for the current year.

Several research analysts have recently issued reports on PVAC shares. ValuEngine cut Penn Virginia from a “sell” rating to a “strong sell” rating in a research note on Wednesday. Zacks Investment Research cut Penn Virginia from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Northland Securities cut Penn Virginia from an “outperform” rating to a “market perform” rating in a research note on Friday, March 13th. Finally, BidaskClub cut Penn Virginia from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $45.67.

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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Institutional Ownership by Quarter for Penn Virginia (NASDAQ:PVAC)

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