In a report issued on July 12, Michael Harvey from RBC Capital maintained a Hold rating on NuVista Energy (NUVSF – Research Report), with a price target of C$3.50. The company’s shares closed last Wednesday at $2.97.
According to TipRanks.com, Harvey is a 4-star analyst with an average return of 12.9% and a 50.5% success rate. Harvey covers the Utilities sector, focusing on stocks such as Crescent Point Energy, Paramount Resources, and Birchcliff Energy.
Currently, the analyst consensus on NuVista Energy is a Moderate Buy with an average price target of $3.70, implying a 20.5% upside from current levels. In a report released yesterday, CIBC also maintained a Hold rating on the stock with a C$5.00 price target.
Based on NuVista Energy’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $151 million and net profit of $15.39 million. In comparison, last year the company earned revenue of $127 million and had a GAAP net loss of $789 million.
Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of NUVSF in relation to earlier this year.
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NuVista Energy Ltd. engages in the exploration, development, and production of oil and natural gas reserves. The firm focuses on the scalable and repeatable condensate-rich Montney formation in the Alberta Deep Basin. The company was founded on April 7, 2003 and is headquartered in Calgary, Canada.
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