NuVista Energy (TSE:NVA) Downgraded to "Hold" Rating by TD Securities

Key Points

• NuVista Energy has been downgraded by TD Securities from a "buy" to a "hold" rating, with a revised target price of C$17.00, down from C$18.00.
• Despite the downgrade, various analysts have differing views, with National Bank Financial raising their rating to "strong-buy" and targeting a price of C$18.60.
• The company has experienced recent insider trading activities, with key officers purchasing shares at prices around C$13.90 and C$13.75.

NuVista Energy (TSE:NVA - Get Free Report) was downgraded by investment analysts at TD Securities from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. They currently have a C$17.00 target price on the stock, down from their prior target price of C$18.00. TD Securities' price target would suggest a potential upside of 4.81% from the company's previous close.

Other research analysts have also recently issued reports about the company. National Bankshares upped their price target on NuVista Energy from C$16.00 to C$18.60 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Royal Bank Of Canada raised their price target on 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 NuVista Energy from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 6th. Desjardins downgraded NuVista Energy from a "buy" rating to a "hold" rating and lowered their price target for the company from C$17.50 to C$17.00 in a research report on Tuesday, August 26th. Finally, Raymond James Financial cut NuVista Energy from a "moderate buy" rating to a "hold" rating and set a C$17.00 price objective on the stock. in a research note on Thursday, July 3rd. Three analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of C$17.62.

NuVista Energy Stock Performance

NVA traded down C$0.47 on Tuesday, reaching C$16.22. 441,298 shares of the stock were exchanged, compared to its average volume of 844,537. The firm has a market capitalization of C$3.20 billion, a PE ratio of 9.49, a PEG ratio of 0.59 and a beta of 0.52. The company's 50-day moving average price is C$14.82 and its 200 day moving average price is C$13.93. The company has a debt-to-equity ratio of 14.11, a current ratio of 0.87 and a quick ratio of 0.78. NuVista Energy has a fifty-two week low of C$10.34 and a fifty-two week high of C$16.82.

Insiders Place Their Bets

In related news, Senior Officer Michael Lawford purchased 18,000 shares of NuVista Energy stock in a transaction on Monday, July 7th. The stock was bought at an average price of C$13.90 per share, with a total value of C$250,200.00. Also, Senior Officer Christopher Mark Alessandro Legrow purchased 3,000 shares of NuVista Energy stock in a transaction on Monday, July 7th. The stock was bought at an average cost of C$13.75 per share, with a total value of C$41,250.00. 20.25% of the stock is currently owned by company 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.

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