Nuvista Energy Ltd (TSE:NVA)’s stock price crossed above its 50 day moving average during trading on Tuesday after CIBC raised their price target on the stock from C$7.50 to C$8.00. The stock has a 50 day moving average of $3.09 and traded as high as $2.75. Nuvista Energy shares last traded at $2.75, with a volume of 190,997 shares traded.
Several other analysts also recently weighed in on the company. BMO Capital Markets set a C$6.50 target price on Nuvista Energy and gave the stock an “outperform” rating in a research report on Tuesday, April 16th. Royal Bank of Canada restated a “buy” rating and issued a C$6.00 price objective (down from C$9.00) on shares of Nuvista Energy in a report on Monday, January 7th. Canaccord Genuity upgraded Nuvista Energy from a “hold” rating to a “buy” rating and lifted their price objective for the company from C$5.00 to C$6.00 in a report on Tuesday, April 9th. TD Securities decreased their price objective on Nuvista Energy from C$8.50 to C$8.00 and set a “buy” rating for the company in a report on Friday, February 8th. Finally, Cormark decreased their price objective on Nuvista Energy from C$10.00 to C$8.00 in a report on Friday, February 8th. Six research analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and a consensus price target of C$8.13.
In other news, Senior Officer Ross Lloyd Andreachuk acquired 19,000 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was purchased at an average cost of C$2.52 per share, for a total transaction of C$47,880.00. Following the completion of the acquisition, the insider now directly owns 77,193 shares of the company’s stock, valued at approximately C$194,526.36. Insiders purchased 34,650 shares of company stock valued at $100,563 over the last 90 days.
Nuvista Energy (TSE:NVA) last posted its earnings results on Tuesday, May 7th. The company reported C$0.13 earnings per share (EPS) for the quarter, beating the 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. Sell-side analysts anticipate that Nuvista Energy Ltd will post 0.46 EPS for the current fiscal year.
About Nuvista Energy (TSE:NVA)
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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