Teachers Advisors LLC acquired a new position in Penn Virginia Corporation (NASDAQ:PVAC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 25,291 shares of the company’s stock, valued at approximately $929,000. Teachers Advisors LLC owned approximately 0.17% of Penn Virginia Corporation as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in PVAC. Franklin Resources Inc. lifted its position in shares of Penn Virginia Corporation by 126.3% in the second quarter. Franklin Resources Inc. now owns 585,251 shares of the company’s stock worth $21,508,000 after purchasing an additional 326,598 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Penn Virginia Corporation in the second quarter worth $1,590,000. Schwab Charles Investment Management Inc. lifted its position in shares of Penn Virginia Corporation by 212.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 35,166 shares of the company’s stock worth $1,293,000 after purchasing an additional 23,914 shares in the last quarter. Martingale Asset Management L P bought a new stake in shares of Penn Virginia Corporation in the second quarter worth $721,000. Finally, Rhumbline Advisers bought a new stake in shares of Penn Virginia Corporation in the second quarter worth $525,000. 63.97% of the stock is currently owned by institutional investors and hedge funds.
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In other news, insider Harry Quarls bought 5,000 shares of the stock in a transaction on Thursday, August 17th. The stock was purchased at an average cost of $38.73 per share, with a total value of $193,650.00. Following the purchase, the insider now owns 28,227 shares of the company’s stock, valued at $1,093,231.71. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of brokerages recently weighed in on PVAC. Capital One Financial Corporation downgraded shares of Penn Virginia Corporation from an “overweight” rating to an “equal weight” rating in a report on Friday, July 7th. Northland Securities set a $60.00 target price on shares of Penn Virginia Corporation and gave the stock a “buy” rating in a report on Monday, July 17th. Finally, Zacks Investment Research upgraded shares of Penn Virginia Corporation from a “hold” rating to a “strong-buy” rating and set a $44.00 target price on the stock in a report on Tuesday, August 15th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $52.00.
Penn Virginia Corporation (NASDAQ PVAC) opened at $39.31 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.99 and a current ratio of 0.99.
Penn Virginia Corporation 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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