NuVista Energy (TSE:NVA) Shares Pass Above 200 Day Moving Average – Here’s What Happened

NuVista Energy Ltd. (TSE:NVA) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$16.08 and traded as high as C$18.21. NuVista Energy shares last traded at C$17.99, with a volume of 3,067,627 shares.

Analysts Set New Price Targets

NVA has been the topic of several research reports. National Bankshares lowered shares of NuVista Energy from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from C$18.50 to C$20.00 in a report on Wednesday, October 22nd. BMO Capital Markets lowered shares of NuVista Energy from an “outperform” rating to a “hold” rating in a research report on Thursday, November 13th. Scotiabank lowered their price target on shares of NuVista Energy from C$19.00 to C$18.00 in a report on Wednesday, November 5th. Jefferies Financial Group cut NuVista Energy from a “buy” rating to a “hold” rating and dropped their price target for the company from C$20.00 to C$18.00 in a research note on Thursday, November 13th. Finally, TD Securities lowered NuVista Energy from a “hold” rating to a “sell” rating and boosted their price objective for the stock from C$17.00 to C$18.04 in a research report on Wednesday, November 5th. Three investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$17.76.

NuVista Energy Stock Up 0.3%

The firm has a market capitalization of C$3.50 billion, a price-to-earnings ratio of 11.21, a P/E/G ratio of 0.59 and a beta of 0.01. The company has a debt-to-equity ratio of 14.11, a current ratio of 0.87 and a quick ratio of 0.78. The stock has a fifty day moving average of C$18.08 and a two-hundred day moving average of C$16.11.

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.