RBC Capital analyst Michael Harvey maintained a Hold rating on NuVista Energy (NUVSF) on October 16 and set a price target of C$1.25. The company’s shares closed last Friday at $0.63.
According to TipRanks.com, Harvey is a 3-star analyst with an average return of 2.6% and a 46.2% success rate. Harvey covers the Utilities sector, focusing on stocks such as Crescent Point Energy, Advantage Oil & Gas, and Paramount Resources.
NuVista Energy has an analyst consensus of Moderate Buy, with a price target consensus of $0.94, implying a 48.6% upside from current levels. In a report issued on October 5, National Bank also maintained a Hold rating on the stock with a C$1.00 price target.
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Based on NuVista Energy’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $67.4 million and GAAP net loss of $80.42 million. In comparison, last year the company earned revenue of $144 million and had a net profit of $9.3 million.
Based on the recent corporate insider activity of 21 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.