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NuVista Energy ( (TSE:NVA) ) has shared an announcement.
NuVista Energy announced that independent proxy advisory firms, including Institutional Shareholder Services, have recommended that shareholders vote in favour of its proposed plan of arrangement under which Ovintiv Inc. would acquire the company through its subsidiary Ovintiv Canada ULC. The transaction offers NuVista shareholders a choice between all-cash, all-share, or a combination of cash and Ovintiv stock, at terms ISS highlighted as the result of a robust sales process that produced a higher, largely cash-based offer exceeding NuVista’s historical market prices over the past 15 years, supporting the board’s view that the deal delivers accelerated value and represents the best strategic path forward for shareholders.
The most recent analyst rating on (TSE:NVA) stock is a Buy with a C$20.00 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.
The score is driven primarily by strong profitability and a conservative balance sheet, partially offset by weaker free-cash-flow generation. Valuation is reasonable (P/E ~10.9), and the proposed Ovintiv acquisition with a stated premium is a supportive corporate catalyst, while technical signals are neutral-to-mixed.
To see Spark’s full report on TSE:NVA stock, click here.
More about NuVista Energy
NuVista Energy Ltd., listed on the TSX under the symbol NVA, is a Calgary-based oil and gas producer operating in the Canadian energy sector. The company focuses on developing and producing natural gas and liquids-rich resources, positioning itself as a mid-sized upstream player in Western Canada’s energy industry.
YTD Price Performance: -0.72%
Average Trading Volume: 1,303,508
Technical Sentiment Signal: Buy
Current Market Cap: C$3.48B
See more data about NVA stock on TipRanks’ Stock Analysis page.