NuVista Energy (TSE:NVA) Downgraded by CIBC to “Tender”

NuVista Energy (TSE:NVA) was downgraded by CIBC from an “outperform” rating to a “tender” rating in a research report issued on Friday,BayStreet.CA reports. They presently have a C$18.00 price objective on the stock, down from their previous price objective of C$20.00. CIBC’s price objective indicates a potential downside of 0.06% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. National Bank Financial upgraded NuVista Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 6th. National Bankshares downgraded NuVista Energy from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from C$18.50 to C$20.00 in a research note on Wednesday, October 22nd. TD Securities downgraded NuVista Energy from a “hold” rating to a “sell” rating and increased their target price for the company from C$17.00 to C$18.04 in a research report on Wednesday. Scotiabank reduced their price target on shares of NuVista Energy from C$19.00 to C$18.00 in a research report on Wednesday. Finally, Desjardins raised shares of NuVista Energy from a “hold” rating to a “moderate buy” rating in a research note on Thursday, October 16th. Three investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$18.00.

NuVista Energy Price Performance

NVA stock traded up C$0.14 during mid-day trading on Friday, hitting C$18.01. The company had a trading volume of 5,298,794 shares, compared to its average volume of 858,565. The company has a 50-day moving average price of C$15.91 and a 200 day moving average price of C$14.67. NuVista Energy has a 12-month low of C$10.44 and a 12-month high of C$18.20. The company has a market capitalization of C$3.55 billion, a price-to-earnings ratio of 10.53, a P/E/G ratio of 0.59 and a beta of 0.13. The company has a quick ratio of 0.78, a current ratio of 0.87 and a debt-to-equity ratio of 14.11.

NuVista Energy Company Profile

NuVista Energy Ltd engages in the exploration, development, and production of oil and natural gas in the Western Canadian Sedimentary Basin. Products sold include natural gas, condensate & oil, butane, propane, and ethane, with condensate composing nearly half of all sales. Condensate finds significant use in the heavy oil business when applied to heavy oil bitumen.