NuVista Energy (NVA) Sets New 1-Year High on Analyst Upgrade

NuVista Energy Ltd. (TSE:NVA) hit a new 52-week high on Monday after CIBC raised their price target on the stock from C$11.50 to C$12.50. The stock traded as high as C$9.79 and last traded at C$9.79, with a volume of 353842 shares. The stock had previously closed at C$9.67.

Other equities research analysts have also issued research reports about the company. Desjardins lifted their price objective on NuVista Energy from C$10.75 to C$11.50 in a report on Wednesday, February 14th. CSFB raised their target price on NuVista Energy from C$10.50 to C$11.50 in a research note on Friday, April 13th. National Bank Financial cut their target price on NuVista Energy from C$10.00 to C$9.50 and set an “outperform” rating for the company in a research note on Thursday, April 12th. Royal Bank of Canada raised their target price on NuVista Energy from C$10.00 to C$11.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 9th. Finally, Morningstar lifted their price target on NuVista Energy from C$9.50 to C$10.25 in a research report on Wednesday, May 9th. Seven analysts have rated the stock with a buy rating, NuVista Energy currently has a consensus rating of “Buy” and an average target price of C$10.73.

In other news, Director Keith A.J. Macphail sold 15,000 shares of NuVista Energy stock in a transaction dated Friday, March 16th. The stock was sold at an average price of C$7.41, for a total transaction of C$111,150.00.

NuVista Energy (TSE:NVA) last announced its quarterly earnings data on Monday, March 12th. The company reported C$0.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of C$0.18 by C$0.02. The company had revenue of C$131.01 million for the quarter, compared to analysts’ expectations of C$130.80 million. NuVista Energy had a negative return on equity of 2.12% and a negative net margin of 5.40%.

About NuVista Energy

NuVista Energy Ltd., an exploration and production company, engages in the development, delineation, and production of condensate, 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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