Nationwide Fund Advisors acquired a new position in Penn Virginia Corporation (NASDAQ:PVAC) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 8,083 shares of the company’s stock, valued at approximately $297,000. Nationwide Fund Advisors owned approximately 0.05% of Penn Virginia Corporation as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently modified their holdings of the business. TIAA CREF Investment Management LLC bought a new stake in Penn Virginia Corporation in the 2nd quarter worth about $1,403,000. Teachers Advisors LLC bought a new stake in Penn Virginia Corporation in the 2nd quarter worth about $929,000. Martingale Asset Management L P bought a new stake in Penn Virginia Corporation in the 2nd quarter worth about $721,000. Wells Fargo & Company MN grew its position in Penn Virginia Corporation by 7,591.2% in the 2nd quarter. Wells Fargo & Company MN now owns 10,537 shares of the company’s stock worth $387,000 after purchasing an additional 10,400 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in Penn Virginia Corporation by 126.3% in the 2nd quarter. Franklin Resources Inc. now owns 585,251 shares of the company’s stock worth $21,508,000 after purchasing an additional 326,598 shares in the last quarter. 63.98% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have issued reports on PVAC shares. Northland Securities set a $60.00 price objective on shares of Penn Virginia Corporation and gave the stock a “buy” rating in a research report on Monday, July 17th. Capital One Financial Corporation raised shares of Penn Virginia Corporation from an “equal weight” rating to an “overweight” rating in a research report on Monday, July 31st. Finally, Zacks Investment Research raised shares of Penn Virginia Corporation from a “hold” rating to a “strong-buy” rating and set a $44.00 price objective for the company in a research report on Tuesday, August 15th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Penn Virginia Corporation currently has an average rating of “Buy” and a consensus price target of $52.00.
Penn Virginia Corporation (NASDAQ:PVAC) opened at $38.72 on Friday. Penn Virginia Corporation has a 52-week low of $15.00 and a 52-week high of $61.97. The firm has a market cap of $582.02 and a P/E ratio of 15.96. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.99 and a current ratio of 0.99.
In related news, insider Harry Quarls bought 5,000 shares of Penn Virginia Corporation stock in a transaction dated Thursday, August 17th. The stock was purchased at an average cost of $38.73 per share, with a total value of $193,650.00. Following the transaction, the insider now directly owns 28,227 shares of the company’s stock, valued at $1,093,231.71. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
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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