Canaccord Genuity’s Analyst Provides Guidance for This Canadian Energy Stock


In a report released today, Anthony Petrucci from Canaccord Genuity maintained a Hold rating on NuVista Energy (NUVSF), with a price target of C$1.00. The company’s shares closed last Wednesday at $0.66.

According to TipRanks.com, Petrucci is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -19.0% and a 27.9% success rate. Petrucci covers the Utilities sector, focusing on stocks such as Tamarack Valley Energy, Crescent Point Energy, and Whitecap Resources.

The word on The Street in general, suggests a Hold analyst consensus rating for NuVista Energy with a $0.90 average price target, which is a 34.8% upside from current levels. In a report released today, Stifel Nicolaus also downgraded the stock to Hold with a C$1.10 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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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