Shares of Nuvista Energy Ltd (TSE:NVA) hit a new 52-week low during trading on Friday after CIBC lowered their price target on the stock from C$10.50 to C$9.50. The stock traded as low as C$4.04 and last traded at C$4.15, with a volume of 1264619 shares traded. The stock had previously closed at C$4.42.
Other analysts have also issued reports about the company. Raymond James increased their price objective on Nuvista Energy from C$13.50 to C$14.50 and gave the stock a “strong-buy” rating in a report on Wednesday, August 8th. National Bank Financial upgraded Nuvista Energy from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from C$11.00 to C$12.00 in a report on Wednesday, August 8th. Industrial Alliance Securities increased their price objective on Nuvista Energy from C$11.00 to C$12.00 in a report on Thursday, August 9th. BMO Capital Markets cut their price objective on Nuvista Energy from C$11.50 to C$10.00 in a report on Friday, August 31st. Finally, TD Securities cut their price objective on Nuvista Energy from C$11.50 to C$10.00 and set a “buy” rating for the company in a report on Wednesday, September 5th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of C$10.30.
In related news, insider Jonathan Andrew Wright bought 4,650 shares of the business’s stock in a transaction on Friday, August 31st. The shares were bought at an average cost of C$7.68 per share, for a total transaction of C$35,712.00. Also, insider Douglas Christopher Mcdavid sold 6,600 shares of the firm’s stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of C$7.44, for a total value of C$49,104.00. Over the last quarter, insiders have purchased 99,530 shares of company stock valued at $475,047.
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About Nuvista Energy (TSE:NVA)
NuVista Energy Ltd., an exploration and production company, engages in the development, delineation, and production of condensate, oil, and natural gas reserves in the Western Canadian Sedimentary Basin in Canada. It primarily focuses on the condensate-rich Montney formation in the Wapiti area of the Alberta Deep Basin.
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