Penn Virginia Co. (NASDAQ:PVAC) saw a significant growth in short interest in June. As of June 30th, there was short interest totalling 1,663,100 shares, a growth of 16.2% from the May 30th total of 1,431,500 shares. Based on an average daily volume of 254,800 shares, the days-to-cover ratio is currently 6.5 days. Currently, 11.1% of the shares of the stock are sold short.

A number of large investors have recently added to or reduced their stakes in PVAC. Alpine Associates Management Inc. bought a new stake in Penn Virginia in the 4th quarter worth approximately $13,023,000. Prescott Group Capital Management L.L.C. lifted its position in Penn Virginia by 679.5% in the 1st quarter. Prescott Group Capital Management L.L.C. now owns 234,061 shares of the company’s stock worth $10,322,000 after buying an additional 204,034 shares during the last quarter. Manikay Partners LLC bought a new stake in Penn Virginia in the 4th quarter worth approximately $9,606,000. Assenagon Asset Management S.A. bought a new stake in Penn Virginia in the 1st quarter worth approximately $5,980,000. Finally, Westwood Holdings Group Inc. lifted its position in Penn Virginia by 19.9% in the 1st quarter. Westwood Holdings Group Inc. now owns 791,256 shares of the company’s stock worth $34,894,000 after buying an additional 131,478 shares during the last quarter. Institutional investors own 89.29% of the company’s stock.

Several research analysts have recently commented on the company. Imperial Capital reissued an “outperform” rating and set a $67.00 price objective (down previously from $70.00) on shares of Penn Virginia in a report on Monday, May 13th. Northland Securities reissued a “hold” rating and set a $8.00 price objective on shares of Evolution Petroleum in a report on Thursday, March 21st. ValuEngine raised Alleghany from a “hold” rating to a “buy” rating in a report on Friday, April 19th. Zacks Investment Research lowered EXACT Sciences from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Finally, BidaskClub lowered Inovio Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Saturday, June 1st. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. Penn Virginia has a consensus rating of “Hold” and an average price target of $82.50.

Shares of NASDAQ PVAC traded down $0.21 during midday trading on Friday, hitting $30.36. 294,914 shares of the company’s stock were exchanged, compared to its average volume of 234,244. Penn Virginia has a 12-month low of $27.33 and a 12-month high of $89.85. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $461.83 million, a P/E ratio of 3.30 and a beta of 1.32. The firm has a fifty day moving average price of $30.37.

Penn Virginia (NASDAQ:PVAC) last released its earnings results on Thursday, May 9th. The company reported $2.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.84 by $0.41. The company had revenue of $105.23 million during the quarter, compared to the consensus estimate of $107.56 million. Penn Virginia had a return on equity of 45.92% and a net margin of 37.49%. On average, equities research analysts forecast that Penn Virginia will post 9.23 earnings per share for the current year.

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. It primarily operates wells in the Eagle Ford Shale field in South Texas. As of December 31, 2018, it had total proved reserves of approximately 123 million barrels of oil equivalent; and 460 gross productive wells, as well as owned approximately 98,200 gross acres of leasehold and royalty interests.

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