Penn Virginia (NASDAQ:PVAC) Sets New 52-Week High at $35.31

Penn Virginia Co. (NASDAQ:PVAC)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $35.31 and last traded at $33.77, with a volume of 720261 shares. The stock had previously closed at $33.49.

A number of equities analysts have recently commented on the company. Truist Securities lifted their price objective on Penn Virginia from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, October 7th. Royal Bank of Canada restated a “hold” rating and set a $28.00 price target on shares of Penn Virginia in a research note on Sunday, July 11th. Zacks Investment Research upgraded Penn Virginia from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research note on Thursday, October 7th. Finally, Truist boosted their price target on Penn Virginia from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, October 7th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $34.40.

The company has a market capitalization of $1.23 billion, a P/E ratio of -1.27 and a beta of 3.54. The firm has a 50 day moving average price of $21.78 and a two-hundred day moving average price of $19.66. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.72 and a current ratio of 0.72.

Penn Virginia (NASDAQ:PVAC) last released its quarterly earnings data on Monday, August 2nd. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.43. The company had revenue of $124.70 million for the quarter, compared to analyst estimates of $105.20 million. Penn Virginia had a positive return on equity of 27.25% and a negative net margin of 111.38%. On average, equities analysts expect that Penn Virginia Co. will post 4.02 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in PVAC. Lasry Marc bought a new stake in shares of Penn Virginia during the 1st quarter valued at $2,538,000. Prudential Financial Inc. boosted its stake in shares of Penn Virginia by 19.0% during the 1st quarter. Prudential Financial Inc. now owns 166,106 shares of the company’s stock worth $2,226,000 after buying an additional 26,578 shares during the last quarter. IPG Investment Advisors LLC lifted its stake in Penn Virginia by 137.5% in the 2nd quarter. IPG Investment Advisors LLC now owns 47,500 shares of the company’s stock valued at $1,121,000 after purchasing an additional 27,500 shares during the last quarter. Principal Financial Group Inc. lifted its position in Penn Virginia by 2.0% during the second quarter. Principal Financial Group Inc. now owns 106,533 shares of the company’s stock worth $2,515,000 after acquiring an additional 2,061 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in Penn Virginia by 26.5% during the second quarter. American Century Companies Inc. now owns 40,359 shares of the company’s stock worth $953,000 after acquiring an additional 8,463 shares during the last quarter. 30.91% of the stock is currently owned by institutional investors and hedge funds.

About Penn Virginia (NASDAQ:PVAC)

Penn Virginia Corp. is an independent oil and gas company, which engages in the exploration, development, and production of crude oil, natural gas liquids, and natural gas. It focuses on its Eagle Ford Shale project located in South Texas. The company was founded in 1882 and is headquartered in Houston, TX.

Read More: Hold Rating

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