Dynamic Technology Lab Private Ltd Purchases New Stake in Penn Virginia Corporation (PVAC)
Dynamic Technology Lab Private Ltd purchased a new position in shares of Penn Virginia Corporation (NASDAQ:PVAC) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 9,509 shares of the company’s stock, valued at approximately $381,000. Dynamic Technology Lab Private Ltd owned 0.06% of Penn Virginia as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also added to or reduced their stakes in the company. Mangrove Partners increased its holdings in Penn Virginia by 16.2% in the 2nd quarter. Mangrove Partners now owns 1,410,777 shares of the company’s stock valued at $51,846,000 after buying an additional 196,390 shares during the period. Franklin Resources Inc. boosted its stake in shares of Penn Virginia by 126.3% in the 2nd quarter. Franklin Resources Inc. now owns 585,251 shares of the company’s stock valued at $21,508,000 after purchasing an additional 326,598 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Penn Virginia by 1.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 316,142 shares of the company’s stock valued at $11,618,000 after purchasing an additional 3,811 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Penn Virginia by 1,626.0% in the 2nd quarter. Vanguard Group Inc. now owns 273,605 shares of the company’s stock valued at $10,055,000 after purchasing an additional 257,753 shares in the last quarter. Finally, State Street Corp acquired a new stake in shares of Penn Virginia in the 2nd quarter valued at approximately $8,130,000. 66.18% of the stock is currently owned by institutional investors and hedge funds.
Penn Virginia Corporation (NASDAQ:PVAC) traded down $0.62 during trading hours on Friday, reaching $34.31. 221,300 shares of the company traded hands, compared to its average volume of 61,697. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.06. Penn Virginia Corporation has a twelve month low of $31.00 and a twelve month high of $61.97. The firm has a market cap of $514.80 and a P/E ratio of 14.48.
In other Penn Virginia news, insider Harry Quarls bought 5,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were acquired at an average cost of $34.64 per share, for a total transaction of $173,200.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.
A number of research firms have recently weighed in on PVAC. SunTrust Banks began coverage on shares of Penn Virginia in a research note on Wednesday. They issued a “buy” rating and a $50.00 price target on the stock. Zacks Investment Research downgraded shares of Penn Virginia from a “hold” rating to a “sell” rating in a research note on Wednesday, November 22nd. Finally, Northland Securities restated a “buy” rating and issued a $63.00 price target on shares of Penn Virginia in a research note on Friday, November 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $51.50.
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.
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