ETF Managers Group LLC raised its holdings in Penn Virginia (NASDAQ:PVAC) by 408.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 73,420 shares of the company’s stock after buying an additional 58,981 shares during the period. ETF Managers Group LLC’s holdings in Penn Virginia were worth $2,493,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in PVAC. Strategic Value Partners LLC bought a new position in shares of Penn Virginia in the fourth quarter valued at $60,002,000. Encompass Capital Advisors LLC bought a new position in shares of Penn Virginia in the fourth quarter valued at $29,215,000. Allianz Asset Management GmbH lifted its stake in shares of Penn Virginia by 1,725.9% in the fourth quarter. Allianz Asset Management GmbH now owns 193,769 shares of the company’s stock valued at $7,579,000 after buying an additional 183,157 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Penn Virginia by 22.8% in the first quarter. BlackRock Inc. now owns 928,772 shares of the company’s stock valued at $32,545,000 after buying an additional 172,288 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Penn Virginia by 81.1% in the first quarter. Dimensional Fund Advisors LP now owns 338,041 shares of the company’s stock valued at $11,845,000 after buying an additional 151,350 shares in the last quarter. 88.78% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have weighed in on PVAC. BidaskClub raised shares of Penn Virginia from a “strong sell” rating to a “sell” rating in a research note on Thursday, April 12th. LADENBURG THALM/SH SH began coverage on shares of Penn Virginia in a research note on Tuesday. They issued a “buy” rating on the stock. Zacks Investment Research lowered shares of Penn Virginia from a “hold” rating to a “sell” rating in a research note on Tuesday, May 8th. Finally, SunTrust Banks set a $60.00 price objective on shares of Penn Virginia and gave the company a “buy” rating in a research note on Thursday, April 12th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $63.33.
Penn Virginia (NASDAQ:PVAC) last announced its earnings results on Wednesday, May 9th. The company reported $1.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.42. Penn Virginia had a net margin of 7.35% and a return on equity of 24.78%. The company had revenue of $77.21 million during the quarter, compared to the consensus estimate of $69.60 million. equities research analysts anticipate that Penn Virginia will post 8.91 earnings per share for the current fiscal year.
In other news, VP Tammy Hinkle sold 778 shares of Penn Virginia stock in a transaction dated Friday, May 11th. The shares were sold at an average price of $61.46, for a total value of $47,815.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Diversified Asset Manageme Kls sold 283,726 shares of Penn Virginia stock in a transaction dated Wednesday, May 16th. The stock was sold at an average price of $61.68, for a total transaction of $17,500,219.68. The disclosure for this sale can be found here. Insiders have sold 458,915 shares of company stock valued at $29,137,647 in the last 90 days. 0.41% of the stock is currently owned by corporate insiders.
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. It primarily operates wells in the Eagle Ford Shale field in South Texas. The company also has operations in the Granite Wash in Oklahoma.
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