Nuvista Energy Ltd (TSE:NVA)’s share price traded up 4.9% during mid-day trading on Friday following insider buying activity. The company traded as high as C$3.84 and last traded at C$3.63. 1,834,406 shares traded hands during mid-day trading, an increase of 170% from the average session volume of 680,288 shares. The stock had previously closed at C$3.46.
Specifically, insider Douglas Christopher Mcdavid sold 6,600 shares of the firm’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of C$7.44, for a total value of C$49,104.00. Also, insider Michael Lawford acquired 5,330 shares of the business’s stock in a transaction dated Tuesday, October 2nd. The stock was purchased at an average price of C$7.51 per share, with a total value of C$40,028.30. Insiders bought 137,330 shares of company stock valued at $605,743 in the last quarter.
A number of equities analysts have recently commented on the stock. Royal Bank of Canada cut their price objective on shares of Nuvista Energy from C$11.00 to C$9.00 and set an “outperform” rating for the company in a research report on Tuesday, November 13th. National Bank Financial dropped their target price on shares of Nuvista Energy from C$12.00 to C$11.50 and set an “outperform” rating for the company in a research report on Tuesday, November 13th. TD Securities dropped their target price on shares of Nuvista Energy from C$9.50 to C$9.00 and set a “buy” rating for the company in a research report on Tuesday, November 13th. Canaccord Genuity dropped their target price on shares of Nuvista Energy from C$11.00 to C$7.50 in a research report on Tuesday, November 13th. Finally, CIBC dropped their target price on shares of Nuvista Energy from C$12.50 to C$10.50 in a research report on Tuesday, November 13th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of C$10.30.
The company has a current ratio of 0.60, a quick ratio of 0.59 and a debt-to-equity ratio of 37.98.
Nuvista Energy (TSE:NVA) last announced its quarterly earnings data on Monday, November 12th. The company reported C$0.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of C$0.18 by C$0.20. The business had revenue of C$150.96 million during the quarter, compared to the consensus estimate of C$138.50 million. Analysts anticipate that Nuvista Energy Ltd will post 0.670000028475001 earnings per share for the current fiscal year.
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About Nuvista Energy (TSE:NVA)
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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