NuVista Energy (TSE:NVA) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

NuVista Energy Ltd. (TSE:NVA)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$16.66 and traded as high as C$19.07. NuVista Energy shares last traded at C$19.04, with a volume of 1,637,797 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Scotiabank upped their target price on shares of NuVista Energy from C$18.00 to C$18.50 and gave the company a “sector perform” rating in a report on Wednesday, January 21st. BMO Capital Markets lowered NuVista Energy from an “outperform” rating to a “hold” rating in a report on Thursday, November 13th. National Bankshares lowered NuVista Energy from an “outperform” rating to a “sector perform” rating and raised their price objective for the stock from C$18.50 to C$20.00 in a report on Wednesday, October 22nd. TD Securities downgraded NuVista Energy from a “hold” rating to a “sell” rating and boosted their target price for the company from C$17.00 to C$18.04 in a report on Wednesday, November 5th. Finally, Jefferies Financial Group downgraded NuVista Energy from a “buy” rating to a “hold” rating and dropped their price target for the stock from C$20.00 to C$18.00 in a research note on Thursday, November 13th. Three equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, NuVista Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of C$17.82.

NuVista Energy Price Performance

The company has a market cap of C$3.69 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 0.59 and a beta of 0.24. The company’s 50 day moving average price is C$18.29 and its 200 day moving average price is C$16.66. The company has a current ratio of 0.87, a quick ratio of 0.78 and a debt-to-equity ratio of 14.11.

NuVista Energy Company Profile

NuVista Energy Ltd engages in the exploration, development, and production of oil and natural gas in the Western Canadian Sedimentary Basin. Products sold include natural gas, condensate & oil, butane, propane, and ethane, with condensate composing nearly half of all sales. Condensate finds significant use in the heavy oil business when applied to heavy oil bitumen. It creates the viscosity needed for pipeline transportation. The Wapiti Montney area delivers the largest portion of hydrocarbon production for NuVista.