Globeflex Capital L P raised its position in Penn Virginia Co. (NASDAQ:PVAC) by 12.0% in the second quarter, Holdings Channel reports. The institutional investor owned 11,200 shares of the company’s stock after purchasing an additional 1,200 shares during the period. Globeflex Capital L P’s holdings in Penn Virginia were worth $951,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Cortina Asset Management LLC purchased a new position in Penn Virginia in the 2nd quarter valued at about $9,365,000. Piedmont Investment Advisors LLC purchased a new position in Penn Virginia in the 2nd quarter valued at about $266,000. BNP Paribas Arbitrage SA raised its stake in shares of Penn Virginia by 2,293.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 72,424 shares of the company’s stock valued at $6,148,000 after purchasing an additional 69,398 shares in the last quarter. Earnest Partners LLC acquired a new stake in shares of Penn Virginia in the 1st quarter valued at about $2,749,000. Finally, Dalton Greiner Hartman Maher & Co. acquired a new stake in shares of Penn Virginia in the 1st quarter valued at about $2,195,000. 97.92% of the stock is owned by institutional investors.
A number of equities research analysts have recently issued reports on PVAC shares. BidaskClub upgraded shares of Penn Virginia from a “hold” rating to a “buy” rating in a research note on Friday, August 3rd. Zacks Investment Research upgraded shares of Penn Virginia from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a research note on Tuesday, July 3rd. LADENBURG THALM/SH SH upped their target price on shares of Penn Virginia from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, July 6th. Finally, SunTrust Banks upped their target price on shares of Penn Virginia from $100.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, June 22nd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Penn Virginia presently has an average rating of “Buy” and a consensus price target of $92.25.
Shares of Penn Virginia stock opened at $86.29 on Friday. The stock has a market capitalization of $1.26 billion, a PE ratio of 29.98 and a beta of 1.32. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 1.89. Penn Virginia Co. has a 1 year low of $32.49 and a 1 year high of $96.13.
Penn Virginia (NASDAQ:PVAC) last issued its earnings results on Wednesday, August 8th. The company reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.44 by $0.02. The business had revenue of $111.58 million for 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%. sell-side analysts forecast that Penn Virginia Co. will post 9.93 earnings per share for the current 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.
Further Reading: Fundamental Analysis and Individual Investors
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