Penn Virginia (PVAC) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Penn Virginia (NASDAQ:PVAC) from a hold rating to a buy rating in a report published on Tuesday morning. Zacks Investment Research currently has $49.00 price objective on the stock.

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 equities research analysts also recently issued reports on the company. Northland Securities set a $57.00 price target on Penn Virginia and gave the company a buy rating in a report on Monday, December 11th. SunTrust Banks started coverage on Penn Virginia in a research report on Wednesday, November 29th. They set a buy rating and a $50.00 price objective on the stock. Finally, BidaskClub upgraded Penn Virginia from a sell rating to a hold rating in a research report on Saturday, December 30th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $52.75.

Shares of Penn Virginia (NASDAQ PVAC) traded up $1.75 during trading on Tuesday, reaching $46.60. The company’s stock had a trading volume of 116,000 shares, compared to its average volume of 133,400. Penn Virginia has a fifty-two week low of $31.00 and a fifty-two week high of $52.70. The firm has a market cap of $675.34 and a P/E ratio of 16.13. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.06.

In other news, insider Harry Quarls acquired 5,000 shares of the stock in a transaction on Thursday, November 30th. The shares were purchased at an average price of $34.64 per share, for a total transaction of $173,200.00. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Legal & General Group Plc acquired a new stake in Penn Virginia in the second quarter valued at about $104,000. JPMorgan Chase & Co. boosted its stake in shares of Penn Virginia by 1.2% during the second quarter. JPMorgan Chase & Co. now owns 316,142 shares of the company’s stock valued at $11,618,000 after purchasing an additional 3,811 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Penn Virginia during the third quarter valued at about $181,000. Wells Fargo & Company MN boosted its stake in shares of Penn Virginia by 53.0% during the third quarter. Wells Fargo & Company MN now owns 16,125 shares of the company’s stock valued at $644,000 after purchasing an additional 5,588 shares in the last quarter. Finally, Voya Investment Management LLC acquired a new stake in shares of Penn Virginia during the second quarter valued at about $252,000. Institutional investors own 66.18% of the company’s stock.

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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.

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