Shares of Penn Virginia Corporation (NASDAQ:PVAC) have been given a consensus broker rating score of 1.67 (Buy) from the three analysts that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and two have issued a strong buy recommendation on the company. Penn Virginia Corporation’s rating score has improved by 16.5% in the last three months as a result of various analysts’ ratings changes.
Analysts have set a 12-month consensus price target of $54.33 for the company, according to Zacks. Zacks has also assigned Penn Virginia Corporation an industry rank of 168 out of 265 based on the ratings given to related companies.
PVAC has been the subject of a number of recent analyst reports. Northland Securities reiterated a “buy” rating and issued a $63.00 price target on shares of Penn Virginia Corporation in a research note on Tuesday, September 5th. Capital One Financial Corporation cut shares of Penn Virginia Corporation from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 7th. Finally, Zacks Investment Research cut shares of Penn Virginia Corporation from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 7th.
In related news, insider Harry Quarls bought 5,000 shares of the business’s stock in a transaction dated Thursday, August 17th. The stock was bought at an average price of $38.73 per share, for a total transaction of $193,650.00. Following the purchase, the insider now owns 28,227 shares in the company, valued at approximately $1,093,231.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Several hedge funds and other institutional investors have recently bought and sold shares of PVAC. Strs Ohio acquired a new stake in shares of Penn Virginia Corporation during the 2nd quarter worth about $183,000. Schwab Charles Investment Management Inc. lifted its stake in shares of Penn Virginia Corporation by 212.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 35,166 shares of the company’s stock worth $1,293,000 after buying an additional 23,914 shares during the last quarter. Rhumbline Advisers acquired a new stake in shares of Penn Virginia Corporation during the 2nd quarter worth about $525,000. Bank of New York Mellon Corp acquired a new stake in shares of Penn Virginia Corporation during the 2nd quarter worth about $1,590,000. Finally, Legal & General Group Plc acquired a new stake in shares of Penn Virginia Corporation during the 2nd quarter worth about $104,000. Institutional investors own 63.88% of the company’s stock.
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Penn Virginia Corporation (PVAC) traded up 3.424% on Wednesday, hitting $40.325. 117,039 shares of the stock traded hands. Penn Virginia Corporation has a 52 week low of $35.06 and a 52 week high of $61.97. The firm’s 50 day moving average is $38.50 and its 200 day moving average is $45.98. The stock has a market cap of $604.55 million and a price-to-earnings ratio of 1.852.
About Penn Virginia Corporation
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. The company primarily operates wells in the Eagle Ford Shale field in South Texas. It also has operations in the Granite Wash in Oklahoma.
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