NuVista Energy Received its Third Buy in a Row

By Ryan Adsit

Analysts seem to be optimistic about NuVista Energy (TSX: NVA) lately with several positive ratings in a row that it received in the past month alone. Yesterday, analyst Joe Levesque gave a Buy rating to NVA and set a C$9.50 price target.

According to TipRanks.com, Levesque is a 3-star analyst with an average return of 5.4% and a 57.6% success rate. Levesque covers the Basic Materials sector, focusing on stocks such as Painted Pony Petroleum Ltd, Athabasca Oil Corporation, and Advantage Oil & Gas Ltd.

Currently, the analyst consensus on NuVista Energy is Strong Buy and the average price target is C$9.88, representing a 20.6% upside.

In a report issued on January 8, Canaccord Genuity also reiterated a Buy rating on the stock with a C$9.50 price target.

NuVista Energy’s market cap is currently C$1.35B and has a P/E ratio of 22.2.

NuVista Energy Ltd. is an exploration and production company. It 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.

The company’s shares closed on Thursday at C$8.19.