Nuvista Energy (TSE:NVA) Cut to “Neutral” at Credit Suisse Group

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Nuvista Energy (TSE:NVA) was downgraded by equities researchers at Credit Suisse Group from an “outperform” rating to a “neutral” rating in a research report issued on Wednesday, Stock Target Advisor reports.

NVA has been the topic of a number of other reports. Royal Bank of Canada lowered shares of Nuvista Energy from an “outperform” rating to a “sector perform” rating and set a C$1.00 price objective on the stock. in a research note on Monday, March 16th. Tudor Pickering & Holt set a C$4.00 price objective on shares of Nuvista Energy and gave the company a “buy” rating in a research note on Monday, January 6th. Raymond James dropped their price objective on shares of Nuvista Energy from C$1.50 to C$1.00 and set a “market perform” rating on the stock in a research note on Wednesday. Scotiabank dropped their price objective on shares of Nuvista Energy from C$5.50 to C$5.00 in a research note on Friday, March 6th. Finally, TD Securities dropped their price objective on shares of Nuvista Energy from C$5.50 to C$4.75 and set a “buy” rating on the stock in a research note on Thursday, March 5th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of C$3.77.

Nuvista Energy stock opened at C$0.51 on Wednesday. Nuvista Energy has a 1-year low of C$0.24 and a 1-year high of C$5.19. The firm has a market capitalization of $124.08 million and a price-to-earnings ratio of -1.80. The firm’s fifty day moving average price is C$1.57 and its two-hundred day moving average price is C$2.26. The company has a current ratio of 0.67, a quick ratio of 0.58 and a debt-to-equity ratio of 47.63.

Nuvista Energy (TSE:NVA) last released its quarterly earnings data on Tuesday, March 3rd. The company reported C$0.08 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.02 by C$0.06. The business had revenue of C$156.48 million during the quarter, compared to the consensus estimate of C$160.30 million. On average, research analysts forecast that Nuvista Energy will post 0.15 EPS for the current year.

In other news, Senior Officer Ross Lloyd Andreachuk bought 14,336 shares of the stock in a transaction dated Tuesday, December 31st. The stock was bought at an average price of C$2.83 per share, for a total transaction of C$40,570.88. Following the completion of the acquisition, the insider now directly owns 91,529 shares in the company, valued at approximately C$259,027.07. Also, Director Pentti Olavi Karkkainen bought 24,000 shares of the stock in a transaction dated Monday, March 9th. The stock was purchased at an average price of C$1.10 per share, with a total value of C$26,400.00. Following the acquisition, the director now owns 100,000 shares of the company’s stock, valued at C$110,000. In the last quarter, insiders bought 88,336 shares of company stock valued at $86,346.

About Nuvista Energy

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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