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Stock Market & Financial Investment News

News Breaks
June 25, 2014
13:48 EDTPVASoros Fund reports 9.53% stake in Penn Virginia
On June 25, SFM sent a letter to the company reiterating its view that the best path to maximize share value would be for the company to be sold. It also expressed its disappointment with the company's rejection of its suggestions that the Issuer provide additional financial incentives to its management team to align their interests with the Issuer's shareholders in the event of a sale. In the letter, SFM also expressed its concern with what it believes to be the company's recent missteps, including: (i) the recent investor presentation failures and the resulting decline in the price of the Common Stock; (ii) the company's private offering of convertible preferred stock at a significant discount to inherent value, which diluted existing equity holders by approximately 21%; and (iii) the intended use of the proceeds from such offering. SFM also noted that the board of directors of the company has presided over a long period of decline in the share price, which further supported its view that the company should pursue a sale. Finally, SFM reserved the right to take any and all actions it believes necessary to ensure that shareholder value is not further eroded if the company fails to pursue a sale.
News For PVA From The Last 14 Days
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September 16, 2014
07:36 EDTPVACredit Suisse to hold a conference
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September 15, 2014
07:23 EDTPVAHart Energy to hold a conference
2014 DUG Eagle Ford Conference to be held in San Antonio, California on September 15-17.
September 5, 2014
10:19 EDTPVAPenn Virginia a Top Pick for buyout appeal at SunTrust
SunTrust said Penn Virginia is a top pick for a buyout and believes the odds of a deal increase as more of the Eagle Ford acreage is developed. The firm has strong confidence in upcoming well results and notes the company has one of the highest average Eagle Ford Oil well IP rates of anyone. Shares are Buy rated with a $28 price target.

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