CIBC Cuts NuVista Energy (TSE:NVA) Price Target to C$18.00

NuVista Energy (TSE:NVA) had its price objective dropped by investment analysts at CIBC from C$19.50 to C$18.00 in a report released on Thursday,BayStreet.CA reports. CIBC’s price objective indicates a potential upside of 64.68% from the company’s previous close.

Several other equities analysts also recently weighed in on the stock. Jefferies Financial Group lifted their target price on shares of NuVista Energy from C$14.00 to C$19.00 in a research note on Monday, December 16th. Desjardins cut shares of NuVista Energy from a “buy” rating to a “hold” rating and lowered their target price for the company from C$17.00 to C$16.25 in a report on Wednesday, March 19th. National Bankshares downgraded NuVista Energy from an “outperform” rating to a “sector perform” rating and set a C$16.00 target price on the stock. in a research report on Thursday, December 19th. Scotiabank lifted their price target on NuVista Energy from C$16.00 to C$17.00 in a research report on Friday, January 17th. Finally, Cormark raised NuVista Energy to a “strong-buy” rating in a report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$17.28.

NuVista Energy Stock Performance

Shares of NVA stock traded down C$0.90 on Thursday, hitting C$10.93. 409,001 shares of the stock were exchanged, compared to its average volume of 876,118. The firm’s 50 day moving average is C$12.42 and its two-hundred day moving average is C$12.53. NuVista Energy has a one year low of C$10.34 and a one year high of C$14.86. The firm has a market capitalization of C$2.24 billion, a PE ratio of 7.64, a P/E/G ratio of 0.59 and a beta of 2.57. The company has a current ratio of 0.87, a quick ratio of 0.78 and a debt-to-equity ratio of 14.11.

Insiders Place Their Bets

In other news, Senior Officer Michael Lawford sold 21,000 shares of the stock in a transaction on Friday, April 4th. The shares were sold at an average price of C$13.47, for a total value of C$282,870.00. Also, Senior Officer Ivan J. Condic sold 2,227 shares of NuVista Energy stock in a transaction on Thursday, March 27th. The stock was sold at an average price of C$13.60, for a total transaction of C$30,287.20. Insiders have sold 28,227 shares of company stock worth $384,657 in the last ninety days. 20.25% of the stock is currently owned by insiders.

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.