Canadian Energy Company Revisited by RBC Capital Analyst
RBC Capital analyst Michael Harvey maintained a Hold rating on NuVista Energy (NUVSF) on January 11 and set a price target of C$1.50. The company’s shares closed last Tuesday at $0.90.
According to TipRanks.com, Harvey is a 4-star analyst with an average return of 6.0% and a 49.2% success rate. Harvey covers the Utilities sector, focusing on stocks such as Crescent Point Energy, Paramount Resources, and Advantage Oil & Gas.
The word on The Street in general, suggests a Hold analyst consensus rating for NuVista Energy with a $0.98 average price target, implying a 19.5% upside from current levels. In a report issued on December 28, 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 September 30, the company reported a quarterly revenue of $106 million and GAAP net loss of $44.14 million. In comparison, last year the company earned revenue of $139 million and had a GAAP net loss of $7.65 million.
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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.