Strategic Value Partners LLC purchased a new stake in Penn Virginia Co. (NASDAQ:PVAC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,534,180 shares of the company’s stock, valued at approximately $60,002,000. Penn Virginia accounts for about 7.2% of Strategic Value Partners LLC’s holdings, making the stock its 4th largest position. Strategic Value Partners LLC owned 0.10% of Penn Virginia as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in shares of Penn Virginia in the third quarter valued at about $181,000. Alliancebernstein L.P. acquired a new stake in shares of Penn Virginia in the fourth quarter valued at about $233,000. Voya Investment Management LLC acquired a new stake in shares of Penn Virginia in the second quarter valued at about $252,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Penn Virginia in the third quarter valued at about $381,000. Finally, Wells Fargo & Company MN increased its stake in shares of Penn Virginia by 7,591.2% in the second quarter. Wells Fargo & Company MN now owns 10,537 shares of the company’s stock valued at $387,000 after buying an additional 10,400 shares during the period. 89.18% of the stock is owned by institutional investors.
PVAC has been the subject of several recent research reports. Northland Securities set a $63.00 price target on Penn Virginia and gave the company a “buy” rating in a research note on Wednesday, January 3rd. BidaskClub cut Penn Virginia from a “buy” rating to a “hold” rating in a research note on Tuesday, January 30th. Zacks Investment Research cut Penn Virginia from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 4th. Finally, SunTrust Banks set a $55.00 price target on Penn Virginia and gave the company a “buy” rating in a research note on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $54.75.
Shares of Penn Virginia Co. (NASDAQ:PVAC) opened at $36.07 on Wednesday. Penn Virginia Co. has a one year low of $31.00 and a one year high of $50.00. The company has a market capitalization of $548.76, a P/E ratio of 11.84 and a beta of 1.56. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.70 and a current ratio of 0.70.
Penn Virginia (NASDAQ:PVAC) last released its earnings results on Thursday, March 1st. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.89 by $0.17. Penn Virginia had a return on equity of 20.39% and a net margin of 20.56%. The business had revenue of $54.33 million during the quarter, compared to analysts’ expectations of $55.95 million. analysts forecast that Penn Virginia Co. will post 8.87 EPS for the current fiscal year.
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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.
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