Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on NUVISTA ENERGY LTD. We currently have 29 research reports from 1 professional analysts.
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NUVISTA ENERGY LTD
NUVISTA ENERGY LTD
Announces Strong Second Quarter 2016 Financial and Operating Results
11 Aug 16
NuVista reported second quarter financial and operating results ahead of our forecast, with strong cash flow generation well ahead of consensus estimates even on adjustment of receipt of infrequent items. Well deliverability is strong and corporate output has recovered to pre-divestiture levels, prompting management to increase its 2016e volume guidance by 1,000 boe/d on unchanged capital inputs. Our forward CFPS estimates are up, though not to the level we anticipated through our initial reaction on receipt of this report. The likelihood that NuVista exceeds guidance continues to be high however. We are increasing our 12-month target price to $8.25 per share and maintaining our Outperform ranking on the stock.
ANNOUNCES STRONG SECOND QUARTER 2016 FINANCIAL AND OPERATING RESULTS
10 Aug 16
Impact: Positive. Cash netbacks were ahead of forecast and NuVista continues to observe strong results within its Montney complex, particularly at Bilbo offsetting Seven Generations. The Company has increased its 2016e volume guidance by 1,000 boe/d on an unchanged capital budget for 2016e so market estimates will be going higher on receipt of this quarter.
2Q16e Quarterly Preview
26 Jul 16
Some Recovery on Segmented Cash Flow Generation Over Q1 Though Still Down 56% Y/Y. In aggregate, the Intermediate, Mid, and Small Cap groups are expected to generate 2Q16e cash flow of $1,281 mm, $183 mm, and $53 mm, or $1.517 billion in total, that while depressed relative to the same period last year (~$2.647 billion combined), is up 17% sequentially from the prior quarter, largely on the strength of crude oil price recovery in the period. Severely weak natural gas pricing picture markedly reversed into summer, market likely to ignore financials for natural gas producers and look ahead to winter and formalization of sell-side 2018e estimates in coming months. Spot AECO natural gas prices recently crested C$2.60/mcf, and with a reasonable alignment of previously distressed NE BC Stn2 differentials, augmented by a withdrawal expected next week, view the market psyche as constructive and looking ahead, with the analogy that this market is shaping up to mirror 2012 still holding. That said, with crude oil poised to retest support levels, combined with strong stock price performance broadly observed YTD, we would characterize sentiment as slightly pessimistic in the near-term which could reduce or unwind momentum-based investment strategies that have worked thus far in 2016.
Announces Asset Divestiture, Note Issue, 2016e Capital Budget Increase
15 Jun 16
NuVista announced a series of transactions providing for improved liquidity and acceleration of its greater Wapiti Montney development, namely a $70 mm non-core asset divestiture, the issue of $70 mm of 5-year notes, and an increase to its 2016e capital budget by ~$40 mm with the advent of a 2nd operated rig immediately added to its fleet. There is no change to our 2017e CFPS, though on the strip, D/CF (trailing) has moved from 1.7x to 1.5x which is positive. We continue to rank the stock as an Outperform on an unchanged 12-month target price of $7.50/sh.
ANNOUNCES STRATEGIC UPDATE; DIVESTITURE OF NON-MONTNEY DEEP BASIN ASSET
14 Jun 16
Impact: Neutral to slightly positive as the positive influence that the W6 Deep Basin transaction should have on netbacks will be partially offset by additional interest expense accrued through a high-yield bond issuance.
GMP FirstEnergy ― UK Energy morning research package
06 Dec 16
Transglobe Energy (TGL CN); BUY, C$5.25: Homeward bound… back to Canada | Great Eastern Energy Corporation (GEEC LN) (not covered): Reserves update in India | BP (BP LN) (not covered): Acquiring interest in Tangguh in Indonesia | Exillon Energy (EXI LN) (not covered): Production update in Russia | Genel Energy (GENL LN); SPECULATIVE BUY, £2.60: Receipt of payment for Taq Taq export in Kurdistan | ExxonMobil (XOM US) (not covered): Relinquishing blocks in Kurdistan
The Slide Rule
12 Jan 17
What is The Slide Rule? The Slide Rule has been designed to dramatically simplify the identification of the best companies in the UK small/mid-cap sector by making a quantitative assessment of the relative potential of each company. At its core, The Slide Rule aims to identify those companies that create genuine shareholder value through strong returns on capital and solid growth, but also present a value opportunity with the potential tailwind of earnings momentum. Companies are assessed within a Quality, Value, Growth and Momentum (QVGM) framework.
The Monthly January 2017
09 Jan 17
Despite all the hullaballoo of the Brexit vote and the subsequent election of Donald Trump as the next US President, the UK stock market prospered last year, especially in the latter few months of 2016. The combination of a depreciating currency – making $ earnings more valuable in relative terms - and the Trump emphasis on infrastructure expenditure drove the stock market higher
16 Jan 17
We take a look at the rankings of the various countries in Africa that have a significant exposure to mining. We take the Transparency International corruption rankings as our starting point and modify these for exceptional geology and for current UK government travel warnings. Ghana, Botswana and Namibia come out as our top three, with Eritrea, Kenya and Zimbabwe at the bottom of our rankings.
Small Cap Breakfast
17 Jan 17
Global Energy Development (GED.L) — To be renamed Nautilus Marine Services. Schedule 1 from developer and seller of hydrocarbons and related products. Reverse takeover. Raising $10.5m via a convertible. Expected 9 Feb. Eco (Atlantic) Oil & Gas—TSX-V listed oil and gas exploration has announced its intention to float on AIM. Assets in Guyana and Namibia. Proposed £2m-£3m fundraise. Diversified Gas & Oil—According to LSE website first day of trading on AIM now expected for 30 January.