Nuvista Energy (TSE:NVA) PT Lowered to C$4.00 at Canaccord Genuity

Nuvista Energy (TSE:NVA) had its price target reduced by Canaccord Genuity from C$5.50 to C$4.00 in a research note released on Tuesday, BayStreet.CA reports.

Several other equities analysts have also recently weighed in on NVA. CIBC reduced their price target on WestJet Airlines from C$22.00 to C$21.00 in a research report on Tuesday, April 23rd. Raymond James set a $31.00 price objective on Mylan and gave the company a buy rating in a research note on Wednesday, May 8th. National Bank Financial dropped their price objective on Yangarra Resources from C$5.50 to C$5.00 and set an outperform rating for the company in a research note on Tuesday, June 25th. BMO Capital Markets reissued a buy rating and set a $50.00 price objective on shares of Fortis in a research note on Tuesday, April 16th. Finally, GMP Securities reissued a buy rating and set a $22.25 price objective on shares of SPDR Wells Fargo Preferred Stock ETF in a research note on Friday, June 28th. Six research analysts have rated the stock with a buy rating, Nuvista Energy currently has an average rating of Buy and an average price target of C$7.41.

Shares of TSE NVA opened at C$2.61 on Tuesday. The stock has a market capitalization of $585.87 million and a PE ratio of 6.90. Nuvista Energy has a fifty-two week low of C$2.45 and a fifty-two week high of C$9.56. The company has a debt-to-equity ratio of 39.99, a quick ratio of 0.52 and a current ratio of 0.90. The company has a fifty day moving average of C$2.73.

Nuvista Energy (TSE:NVA) last announced its quarterly earnings results on Tuesday, May 7th. The company reported C$0.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.09 by C$0.04. The company had revenue of C$134.06 million during the quarter, compared to analysts’ expectations of C$141.40 million. Analysts predict that Nuvista Energy will post 0.37 EPS for the current fiscal year.

In other Nuvista Energy news, Senior Officer Ross Lloyd Andreachuk acquired 19,000 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at C$194,526.36. Insiders have purchased 34,650 shares of company stock valued at $100,563 in the last three months.

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.

Read More: What does an outperform rating mean?

Analyst Recommendations for Nuvista Energy (TSE:NVA)

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