Penn Virginia (PVAC) Downgraded to Hold at Zacks Investment Research
Penn Virginia (NASDAQ:PVAC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “Penn Virginia Corporation is an oil and gas company. It engaged in exploration, development and production of oil, NGLs and natural gas. The company operates primarily in Eagle Ford Shale in South Texas and Oklahoma. Penn Virginia Corporation is headquatered in Houston, Texas. “
Several other research firms have also recently commented on PVAC. Northland Securities set a $63.00 target price on shares of Penn Virginia and gave the company a “buy” rating in a research note on Wednesday, January 3rd. BidaskClub upgraded shares of Penn Virginia from a “sell” rating to a “hold” rating in a research note on Saturday, December 30th. Finally, SunTrust Banks began coverage on shares of Penn Virginia in a research note on Wednesday, November 29th. They set a “buy” rating and a $50.00 target price for the company. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $52.75.
Shares of Penn Virginia (NASDAQ PVAC) opened at $45.01 on Wednesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market cap of $661.84 and a price-to-earnings ratio of 16.19. Penn Virginia has a 1-year low of $31.00 and a 1-year high of $53.00.
In related news, insider Harry Quarls bought 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was purchased at an average cost of $38.72 per share, for a total transaction of $193,600.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.
Large investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc acquired a new position in Penn Virginia during the 2nd quarter valued at $104,000. SG Americas Securities LLC acquired a new position in Penn Virginia during the 3rd quarter valued at $181,000. Voya Investment Management LLC acquired a new position in Penn Virginia during the 2nd quarter valued at $252,000. Nationwide Fund Advisors acquired a new position in Penn Virginia during the 2nd quarter valued at $297,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Penn Virginia in the 3rd quarter valued at $381,000. Hedge funds and other institutional investors own 66.18% of the company’s stock.
WARNING: This piece was originally reported by Watch List News and is the sole property of of Watch List News. If you are accessing this piece on another domain, it was stolen and republished in violation of US & international trademark and copyright law. The legal version of this piece can be read at https://www.watchlistnews.com/penn-virginia-pvac-downgraded-to-hold-at-zacks-investment-research/1801063.html.
Penn Virginia Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Penn Virginia Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Penn Virginia and related companies with Analyst Ratings Network's FREE daily email newsletter.