Chicago Equity Partners LLC purchased a new position in shares of Penn Virginia Co. (NASDAQ:PVAC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,200 shares of the company’s stock, valued at approximately $866,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. UBS Group AG boosted its holdings in shares of Penn Virginia by 77.6% during the first quarter. UBS Group AG now owns 2,854 shares of the company’s stock worth $100,000 after acquiring an additional 1,247 shares during the period. Nuveen Asset Management LLC bought a new stake in shares of Penn Virginia during the first quarter worth approximately $144,000. SG Americas Securities LLC boosted its holdings in shares of Penn Virginia by 59.8% during the first quarter. SG Americas Securities LLC now owns 6,798 shares of the company’s stock worth $238,000 after acquiring an additional 2,544 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Penn Virginia during the second quarter worth approximately $243,000. Finally, Piedmont Investment Advisors LLC bought a new stake in shares of Penn Virginia during the second quarter worth approximately $266,000. 97.92% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:PVAC opened at $78.23 on Friday. Penn Virginia Co. has a 12-month low of $32.49 and a 12-month high of $96.13. The company has a market cap of $1.34 billion, a PE ratio of 27.16 and a beta of 1.29. 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 (NASDAQ:PVAC) last issued its quarterly earnings data on Wednesday, August 8th. The company reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.44 by $0.02. The company had revenue of $111.58 million during the quarter, compared to analysts’ expectations of $105.90 million. Penn Virginia had a positive return on equity of 36.88% and a negative net margin of 3.23%. sell-side analysts predict that Penn Virginia Co. will post 10.35 earnings per share for the current fiscal year.
A number of equities research analysts have recently issued reports on the company. BidaskClub cut Penn Virginia from a “buy” rating to a “hold” rating in a report on Saturday, July 28th. Zacks Investment Research upgraded Penn Virginia from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a report on Saturday, August 11th. TheStreet upgraded Penn Virginia from a “d+” rating to a “c-” rating in a report on Wednesday, June 13th. SunTrust Banks boosted their price objective on Penn Virginia to $75.00 and gave the stock an “average” rating in a report on Thursday, May 10th. Finally, LADENBURG THALM/SH SH assumed coverage on Penn Virginia in a report on Tuesday, June 12th. They set a “buy” rating for the company. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $92.25.
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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