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NuVista Energy ( (TSE:NVA) ) has provided an announcement.
NuVista Energy Ltd. reported its third-quarter financial and operational results, highlighting a production level of 67,680 Boe/d, slightly below its guidance. However, with the completion of third-party gas facility turnarounds and the commissioning of the Pipestone Gas Plant, production has increased to over 100,000 Boe/d. The company achieved strong financial performance with adjusted funds flow of $143.5 million and net earnings of $36.5 million for the quarter. NuVista also repurchased and canceled 3.4 million shares, maintaining a strong balance sheet with a favorable net debt ratio. The company’s operational efficiency has been bolstered by its two-rig drilling program and completion of 43 new wells, positioning it well for continued growth.
The most recent analyst rating on (TSE:NVA) stock is a Hold with a C$18.00 price target. To see the full list of analyst forecasts on NuVista Energy stock, see the TSE:NVA Stock Forecast page.
Spark’s Take on TSE:NVA Stock
According to Spark, TipRanks’ AI Analyst, TSE:NVA is a Outperform.
NuVista Energy demonstrates strong financial performance with effective cost management and reduced debt levels. Its valuation appears attractive, indicating potential for price appreciation. While technical indicators suggest some caution in the short term, the company’s record reserves and robust production growth offer a positive long-term outlook.
To see Spark’s full report on TSE:NVA stock, click here.
More about NuVista Energy
NuVista Energy Ltd. operates in the energy sector, focusing on the production of oil and natural gas. The company is primarily engaged in the exploration and development of hydrocarbon resources, with a significant emphasis on condensate, natural gas liquids, and natural gas production.
Average Trading Volume: 821,954
Technical Sentiment Signal: Buy
Current Market Cap: C$3.49B
See more data about NVA stock on TipRanks’ Stock Analysis page.