TD Securities Downgrades NuVista Energy (TSE:NVA) to Sell

NuVista Energy (TSE:NVA) was downgraded by research analysts at TD Securities from a “hold” rating to a “sell” rating in a research report issued on Wednesday,BayStreet.CA reports. They currently have a C$18.04 target price on the stock, up from their prior target price of C$17.00. TD Securities’ price objective suggests a potential upside of 0.39% from the company’s previous close.

A number of other brokerages have also recently issued reports on NVA. National Bank Financial raised shares of NuVista Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 6th. Desjardins raised shares of NuVista Energy from a “hold” rating to a “moderate buy” rating in a research report on Thursday, October 16th. CIBC increased their price target on shares of NuVista Energy from C$19.00 to C$20.00 in a research note on Wednesday, October 15th. National Bankshares lowered shares of NuVista Energy from an “outperform” rating to a “sector perform” rating and raised their price objective for the company from C$18.50 to C$20.00 in a research note on Wednesday, October 22nd. Finally, Scotiabank reduced their price target on shares of NuVista Energy from C$19.00 to C$18.00 in a research note on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$18.23.

NuVista Energy Price Performance

TSE:NVA traded up C$1.05 during mid-day trading on Wednesday, hitting C$17.97. 4,344,994 shares of the stock traded hands, compared to its average volume of 820,370. 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 has a 12-month low of C$10.44 and a 12-month high of C$18.20. The company has a market cap of C$3.54 billion, a PE ratio of 10.51, a price-to-earnings-growth ratio of 0.59 and a beta of 0.13. The business’s 50-day moving average price is C$15.79 and its 200 day moving average price is C$14.63.

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.