Penn Virginia (NASDAQ:PVAC) PT Set at $57.00 by Northland Securities

Penn Virginia (NASDAQ:PVAC) has been assigned a $57.00 target price by analysts at Northland Securities in a research note issued on Monday, December 11th. The firm presently has a “buy” rating on the stock. Northland Securities’ price objective would indicate a potential upside of 42.32% from the company’s previous close.

Other research analysts also recently issued reports about the company. Zacks Investment Research cut Penn Virginia from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 7th. SunTrust Banks initiated coverage on Penn Virginia in a report on Wednesday, November 29th. They issued a “buy” rating and a $50.00 price target 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 stock currently has a consensus rating of “Buy” and an average target price of $50.00.

Shares of Penn Virginia (NASDAQ:PVAC) traded up $0.94 during midday trading on Monday, reaching $40.05. The company’s stock had a trading volume of 182,147 shares, compared to its average volume of 135,850. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.06. The company has a market cap of $586.82 and a price-to-earnings ratio of 14.41. Penn Virginia has a 1-year low of $31.00 and a 1-year high of $61.97.

In other news, insider Harry Quarls purchased 5,000 shares of the firm’s stock in a transaction on Thursday, November 30th. The shares were bought at an average cost of $34.64 per share, for a total transaction of $173,200.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Legal & General Group Plc acquired a new stake in shares of Penn Virginia in the second quarter valued at $104,000. SG Americas Securities LLC purchased a new position in Penn Virginia in the third quarter valued at $181,000. Strs Ohio purchased a new position in Penn Virginia in the second quarter valued at $183,000. Voya Investment Management LLC purchased a new position in shares of Penn Virginia during the second quarter worth about $252,000. Finally, Nationwide Fund Advisors purchased a new position in shares of Penn Virginia during the second quarter worth about $297,000. Institutional investors and hedge funds own 66.18% of the company’s stock.

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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.

Analyst Recommendations for Penn Virginia (NASDAQ:PVAC)

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