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NuVista Energy (OTCPK:NUVSF) released strong Q1 earnings and confirmed the 2019 guidance. The debt level is still reasonable and management built strong hedging for the rest of the year.
But, because of the lower NGL prices, the stock price dropped almost 30% since the beginning of the year.
The market values the company at a discount to my fair value estimate. Also, the valuation is low compared to some of its close competitors. Taking into account the reasonable debt, the low costs, and the strong hedges, the market is overreacting.