Nuvista Energy (TSE:NVA) Price Target Cut to C$5.50

Nuvista Energy (TSE:NVA) had its price objective trimmed by CIBC from C$8.00 to C$5.50 in a research report report published on Thursday morning, BayStreet.CA reports.

NVA has been the subject of a number of other research reports. BMO Capital Markets reaffirmed a buy rating and issued a $50.00 target price on shares of Fortis in a report on Tuesday, April 16th. Canaccord Genuity reaffirmed a buy rating and issued a $7.50 target price on shares of in a report on Tuesday, July 9th. Raymond James set a $31.00 target price on Mylan and gave the stock a buy rating in a report on Wednesday, May 8th. GMP Securities reaffirmed a buy rating and issued a $22.25 target price on shares of SPDR Wells Fargo Preferred Stock ETF in a report on Friday, June 28th. Finally, Royal Bank of Canada reaffirmed a buy rating and issued a $2.50 target price on shares of in a report on Thursday. Seven analysts have rated the stock with a buy rating, Nuvista Energy currently has an average rating of Buy and a consensus price target of C$6.83.

Shares of NVA opened at C$2.53 on Thursday. Nuvista Energy has a 12-month low of C$2.45 and a 12-month high of C$9.56. The stock has a 50-day moving average price of C$2.65. The company has a current ratio of 0.90, a quick ratio of 0.52 and a debt-to-equity ratio of 39.99. The firm has a market cap of $570.09 million and a PE ratio of 6.69.

Nuvista Energy (TSE:NVA) last issued its earnings results on Tuesday, May 7th. The company reported C$0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.09 by C$0.04. The firm had revenue of C$134.06 million during the quarter, compared to analyst estimates of C$141.40 million. As a group, equities analysts forecast that Nuvista Energy will post 0.39 earnings per share for the current fiscal year.

In related news, Senior Officer Ross Lloyd Andreachuk purchased 19,000 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was bought at an average price of C$2.52 per share, with a total value of C$47,880.00. Following the completion of the purchase, the insider now owns 77,193 shares in the company, valued at approximately C$194,526.36. In the last three months, insiders bought 34,650 shares of company stock valued at $100,563.

Nuvista Energy Company Profile

NuVista Energy Ltd., an oil and natural gas company, engages in the exploration, development, delineation, and production of condensate, and oil and natural gas reserves in the Western Canadian Sedimentary Basin in Canada. It primarily focuses on the condensate-rich Montney formation in the Wapiti area of the Alberta Deep Basin.

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Analyst Recommendations for Nuvista Energy (TSE:NVA)

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