Penn Virginia (NASDAQ:PVAC) Lowered to “Strong Sell” at Zacks Investment Research
Penn Virginia (NASDAQ:PVAC) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Thursday, January 4th.
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. “
A number of other equities research analysts have also commented on the company. BidaskClub raised Penn Virginia from a “sell” rating to a “hold” rating in a research report on Saturday, December 30th. Northland Securities set a $57.00 target price on Penn Virginia and gave the company a “buy” rating in a research report on Monday, December 11th. Finally, SunTrust Banks assumed coverage on Penn Virginia in a research report on Wednesday, November 29th. They set a “buy” rating and a $50.00 target price for the company. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $54.75.
Penn Virginia (NASDAQ:PVAC) last issued its earnings results on Wednesday, November 8th. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. Penn Virginia had a return on equity of 16.76% and a net margin of 30.22%. research analysts anticipate that Penn Virginia will post 2.75 EPS for the current year.
In other Penn Virginia news, insider Harry Quarls purchased 5,000 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was purchased at an average price of $34.64 per share, for a total transaction of $173,200.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
Several institutional investors and hedge funds have recently modified their holdings of PVAC. Schwab Charles Investment Management Inc. raised its holdings in shares of Penn Virginia by 23.3% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 65,092 shares of the company’s stock valued at $2,546,000 after buying an additional 12,292 shares in the last quarter. Highbridge Capital Management LLC purchased a new position in shares of Penn Virginia during the 3rd quarter valued at about $414,000. Allianz Asset Management GmbH purchased a new position in shares of Penn Virginia during the 3rd quarter valued at about $424,000. Dimensional Fund Advisors LP raised its holdings in shares of Penn Virginia by 257.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 91,389 shares of the company’s stock valued at $3,654,000 after buying an additional 65,841 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Penn Virginia by 53.0% during the 3rd quarter. Wells Fargo & Company MN now owns 16,125 shares of the company’s stock valued at $644,000 after buying an additional 5,588 shares in the last quarter. Hedge funds and other institutional investors own 66.26% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “Penn Virginia (NASDAQ:PVAC) Lowered to “Strong Sell” at Zacks Investment Research” was first posted by Marea Informative and is the sole property of of Marea Informative. If you are viewing this news story on another publication, it was illegally stolen and reposted in violation of US and international copyright and trademark law. The correct version of this news story can be viewed at https://www.mareainformativa.com/2018/01/30/penn-virginia-pvac-downgraded-by-zacks-investment-research-updated-updated-updated.html.
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. 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 MarketBeat.com's FREE daily email newsletter.