Penn Virginia (PVAC) Stock Price Up 9.1%

Shares of Penn Virginia Co. (NASDAQ:PVAC) rose 9.1% during mid-day trading on Monday . The stock traded as high as $72.30 and last traded at $72.22. Approximately 540,886 shares changed hands during trading, an increase of 132% from the average daily volume of 233,553 shares. The stock had previously closed at $66.21.

PVAC has been the topic of several recent analyst reports. BidaskClub raised Penn Virginia from a “hold” rating to a “buy” rating in a research note on Saturday, September 1st. ValuEngine downgraded Penn Virginia from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. Finally, Zacks Investment Research downgraded Penn Virginia from a “buy” rating to a “hold” rating in a research note on Tuesday, August 14th. Two investment analysts have rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $94.75.

The company has a market cap of $997.02 million, a PE ratio of 23.02 and a beta of 1.74. 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 released its quarterly earnings data on Wednesday, August 8th. The company reported $2.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.44 by $0.02. Penn Virginia had a positive return on equity of 36.88% and a negative net margin of 3.23%. The business had revenue of $111.58 million for the quarter, compared to the consensus estimate of $105.90 million. On average, equities analysts anticipate that Penn Virginia Co. will post 10.44 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the business. UBS Group AG increased its stake in Penn Virginia by 77.6% in the 1st 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 last quarter. Tower Research Capital LLC TRC increased its position in shares of Penn Virginia by 869.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,938 shares of the company’s stock valued at $165,000 after purchasing an additional 1,738 shares during the last quarter. California Public Employees Retirement System bought a new position in shares of Penn Virginia during the 2nd quarter valued at approximately $204,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Penn Virginia during the 2nd quarter valued at approximately $243,000. Finally, Piedmont Investment Advisors LLC bought a new position in shares of Penn Virginia during the 2nd quarter valued at approximately $266,000. 97.57% of the stock is currently owned by institutional investors and hedge funds.

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About Penn Virginia (NASDAQ:PVAC)

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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