NEW YORK (TheStreet) -- Penn Virginia (PVA), an independent oil and gas company, rose to a one-year high of $16 on Tuesday after activist investor Soros Fund Management disclosed that it had taken a 9.18% stake in the company and urged Penn Virginia's management to consider other strategic alternatives.
The stock amassed a volume of 6,906,601, more than double its average of 2,817,590. It hit a low of $13.57 for the day and holds a one-year low of $3.56.
Penn Virginia closed up 15.94% to $15.78, up $2.17 from its previous close of $13.61, on Tuesday.
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TheStreet Ratings team rates PENN VIRGINIA CORP as a "hold" with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate PENN VIRGINIA CORP (PVA) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and increase in net income. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk, disappointing return on equity and weak operating cash flow."
Highlights from the analysis by TheStreet Ratings Team goes as follows: