Penn Virginia Co. (NASDAQ:PVAC) has received a consensus rating of “Buy” from the six analysts that are currently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $94.75.

A number of research firms have recently commented on PVAC. BidaskClub raised Penn Virginia from a “hold” rating to a “buy” rating in a research note on Tuesday, October 9th. Zacks Investment Research raised Penn Virginia from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a research note on Wednesday, June 27th. SunTrust Banks upped their target price on Penn Virginia from $100.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, June 22nd. Finally, LADENBURG THALM/SH SH upped their target price on Penn Virginia from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, July 6th.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its stake in shares of Penn Virginia by 111.0% during the second quarter. BlackRock Inc. now owns 1,959,412 shares of the company’s stock valued at $166,336,000 after buying an additional 1,030,640 shares during the last quarter. FMR LLC bought a new position in Penn Virginia in the second quarter worth approximately $49,293,000. Dimensional Fund Advisors LP grew its stake in Penn Virginia by 52.8% in the second quarter. Dimensional Fund Advisors LP now owns 516,471 shares of the company’s stock worth $43,843,000 after purchasing an additional 178,430 shares in the last quarter. Allianz Asset Management GmbH grew its stake in Penn Virginia by 45.8% in the first quarter. Allianz Asset Management GmbH now owns 282,421 shares of the company’s stock worth $9,896,000 after purchasing an additional 88,652 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Penn Virginia by 4.8% in the first quarter. JPMorgan Chase & Co. now owns 221,393 shares of the company’s stock worth $7,757,000 after purchasing an additional 10,217 shares in the last quarter. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ PVAC opened at $74.35 on Monday. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 1.89. Penn Virginia has a 1-year low of $32.49 and a 1-year high of $96.13. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 25.82 and a beta of 1.43.

Penn Virginia (NASDAQ:PVAC) last issued its quarterly earnings data on Wednesday, August 8th. The company reported $2.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.44 by $0.02. Penn Virginia had a positive return on equity of 36.88% and a negative net margin of 3.23%. The company had revenue of $111.58 million for the quarter, compared to analysts’ expectations of $105.90 million. As a group, analysts predict that Penn Virginia will post 10.37 EPS for the current fiscal year.

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. 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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