Jefferies Financial Group Downgrades NuVista Energy (TSE:NVA) to Hold

NuVista Energy (TSE:NVA) was downgraded by investment analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research report issued on Thursday, Marketbeat reports. They currently have a C$18.00 target price on the stock, down from their prior target price of C$20.00. Jefferies Financial Group’s target price indicates a potential downside of 0.55% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. Scotiabank reduced their price target on NuVista Energy from C$19.00 to C$18.00 in a research report on Wednesday, November 5th. CIBC cut shares of NuVista Energy from an “outperform” rating to a “tender” rating and dropped their price objective for the stock from C$20.00 to C$18.00 in a research note on Friday, November 7th. TD Securities cut shares of NuVista Energy from a “hold” rating to a “sell” rating and boosted their target price for the company from C$17.00 to C$18.04 in a research note on Wednesday, November 5th. National Bankshares lowered shares of NuVista Energy from an “outperform” rating to a “sector perform” rating and raised their price target for the company from C$18.50 to C$20.00 in a research report on Wednesday, October 22nd. Finally, Desjardins upgraded shares of NuVista Energy from a “hold” rating to a “moderate buy” rating in a research report on Thursday, October 16th. Three equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, NuVista Energy currently has a consensus rating of “Moderate Buy” and an average target price of C$17.89.

NuVista Energy Price Performance

TSE:NVA opened at C$18.10 on Thursday. The firm’s fifty day moving average is C$16.32 and its two-hundred day moving average is C$14.92. The firm has a market cap of C$3.51 billion, a price-to-earnings ratio of 11.24, a PEG ratio of 0.59 and a beta of 0.13. The company has a debt-to-equity ratio of 14.11, a quick ratio of 0.78 and a current ratio of 0.87. NuVista Energy has a one year low of C$10.44 and a one year high of C$18.29.

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.