Strs Ohio decreased its position in shares of Penn Virginia Co. (NASDAQ:PVAC) by 37.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,700 shares of the company’s stock after selling 7,100 shares during the quarter. Strs Ohio owned about 0.08% of Penn Virginia worth $993,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Piedmont Investment Advisors LLC bought a new position in Penn Virginia during the 2nd quarter worth approximately $266,000. BNP Paribas Arbitrage SA raised its holdings in Penn Virginia by 2,293.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 72,424 shares of the company’s stock worth $6,148,000 after purchasing an additional 69,398 shares during the last quarter. Dalton Greiner Hartman Maher & Co. bought a new position in Penn Virginia during the 1st quarter worth approximately $2,195,000. Earnest Partners LLC bought a new position in Penn Virginia during the 1st quarter worth approximately $2,749,000. Finally, New Generation Advisors LLC bought a new position in Penn Virginia during the 1st quarter worth approximately $4,847,000. Hedge funds and other institutional investors own 97.92% of the company’s stock.
PVAC has been the subject of several analyst reports. LADENBURG THALM/SH SH raised their price target on shares of Penn Virginia from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, July 6th. TheStreet upgraded shares of Penn Virginia from a “d+” rating to a “c-” rating in a report on Wednesday, June 13th. Zacks Investment Research lowered shares of Penn Virginia from a “buy” rating to a “hold” rating in a report on Saturday, June 30th. SunTrust Banks lifted their price objective on shares of Penn Virginia to $75.00 and gave the company an “average” rating in a research note on Thursday, May 10th. Finally, BidaskClub upgraded shares of Penn Virginia from a “hold” rating to a “buy” rating in a research note on Friday, May 11th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $92.25.
NASDAQ:PVAC opened at $85.83 on Thursday. The firm has a market capitalization of $1.26 billion, a PE ratio of 29.80 and a beta of 1.32. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.46 and a quick ratio of 0.46. Penn Virginia Co. has a twelve month low of $32.49 and a twelve month high of $96.13.
Penn Virginia (NASDAQ:PVAC) last released its quarterly earnings data on Wednesday, August 8th. The company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.02. The company had revenue of $111.58 million during the quarter, compared to analyst estimates of $105.90 million. Penn Virginia had a negative net margin of 3.23% and a positive return on equity of 36.88%. analysts forecast that Penn Virginia Co. will post 9.93 EPS for the current fiscal year.
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. It primarily operates wells in the Eagle Ford Shale field in South Texas. The company also has operations in the Granite Wash in Oklahoma.
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