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

Nuvista Energy (TSE:NVA) had its target price decreased by CIBC from C$8.00 to C$5.50 in a research note released on Thursday morning, BayStreet.CA reports.

Other equities analysts also recently issued research reports about the stock. National Bank Financial lowered their target price on shares of 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. Royal Bank of Canada reissued a buy rating and set a $2.50 target price on shares of in a research note on Thursday. GMP Securities reissued a buy rating and set a $22.25 target price on shares of SPDR Wells Fargo Preferred Stock ETF in a research note on Friday, June 28th. CSFB reissued a neutral rating and set a C$32.00 target price on shares of Vermilion Energy in a research note on Tuesday, July 16th. Finally, Canaccord Genuity reissued a buy rating and set a $7.50 target price on shares of in a research note on Tuesday, July 9th. Seven analysts have rated the stock with a buy rating, Nuvista Energy currently has a consensus rating of Buy and a consensus target price of C$6.83.

NVA stock opened at C$2.53 on Thursday. The company’s fifty day simple moving average is C$2.65. The company has a market capitalization of $570.09 million and a P/E ratio of 6.69. Nuvista Energy has a 52-week low of C$2.45 and a 52-week high of C$9.56. The company has a debt-to-equity ratio of 39.99, a current ratio of 0.90 and a quick ratio of 0.52.

Nuvista Energy (TSE:NVA) last released its quarterly earnings results on Tuesday, May 7th. The company reported C$0.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.09 by C$0.04. The business had revenue of C$134.06 million for the quarter, compared to the consensus estimate of C$141.40 million. As a group, sell-side analysts expect that Nuvista Energy will post 0.39 earnings per share for the current year.

In other news, Senior Officer Ross Lloyd Andreachuk bought 19,000 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was acquired 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 directly 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.

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Analyst Recommendations for Nuvista Energy (TSE:NVA)

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