NuVista Energy (TSE:NVA) Cut to “Hold” at Desjardins

NuVista Energy (TSE:NVA) was downgraded by equities research analysts at Desjardins from a “buy” rating to a “hold” rating in a research report issued on Tuesday,BayStreet.CA reports. They currently have a C$17.00 price target on the stock, down from their prior price target of C$17.50. Desjardins’ price target points to a potential upside of 20.06% from the stock’s previous close.

A number of other research firms have also weighed in on NVA. National Bankshares raised their price target on shares of NuVista Energy from C$16.00 to C$18.60 and gave the company an “outperform” rating in a report on Thursday, August 7th. Royal Bank Of Canada raised their price target on shares of NuVista Energy from C$14.00 to C$16.00 and gave the company a “sector perform” rating in a report on Monday, June 30th. National Bank Financial raised shares of NuVista Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 6th. Finally, Raymond James Financial lowered shares of NuVista Energy from a “moderate buy” rating to a “hold” rating and set a C$17.00 price objective for the company. in a report on Thursday, July 3rd. Three research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of C$17.51.

NuVista Energy Stock Down 3.2%

NVA traded down C$0.47 during trading hours on Tuesday, reaching C$14.16. 853,248 shares of the stock traded hands, compared to its average volume of 862,392. The firm’s fifty day simple moving average is C$14.45 and its two-hundred day simple moving average is C$13.38. The company has a market cap of C$2.90 billion, a price-to-earnings ratio of 9.90, a PEG ratio of 0.59 and a beta of 2.57. NuVista Energy has a fifty-two week low of C$10.34 and a fifty-two week high of C$16.11. The company has a debt-to-equity ratio of 14.11, a current ratio of 0.87 and a quick ratio of 0.78.

Insider Activity at NuVista Energy

In other NuVista Energy news, Senior Officer Joshua Thomas Truba sold 22,000 shares of the firm’s stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of C$15.45, for a total transaction of C$339,900.00. Also, Senior Officer Jonathan Andrew Wright sold 88,283 shares of the firm’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of C$14.50, for a total transaction of C$1,280,103.50. Insiders sold 168,282 shares of company stock worth $2,502,369 over the last 90 days. Company insiders own 20.25% of the company’s stock.

About NuVista Energy

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.