NuVista Energy (TSE:NVA) Shares Cross Above 200 Day Moving Average – What’s Next?

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 changing hands.

Analysts Set New Price Targets

NVA has been the subject of a number of research analyst reports. National Bankshares lowered shares of NuVista Energy from an “outperform” rating to a “sector perform” rating and upped their price objective for the company from C$18.50 to C$20.00 in a research report on Wednesday, October 22nd. TD Securities cut NuVista Energy from a “hold” rating to a “sell” rating and upped their price target for the company from C$17.00 to C$18.04 in a report on Wednesday, November 5th. Desjardins upgraded NuVista Energy from a “hold” rating to a “moderate buy” rating in a research report on Thursday, October 16th. Scotiabank lifted their price objective on NuVista Energy from C$18.00 to C$18.50 and gave the stock a “sector perform” rating in a report on Wednesday, January 21st. Finally, BMO Capital Markets lowered NuVista Energy from an “outperform” rating to a “hold” rating in a research note on Thursday, November 13th. Three equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, NuVista Energy currently has an average rating of “Moderate Buy” and a consensus target price of C$17.82.

NuVista Energy Stock Performance

The company has a current ratio of 0.87, a quick ratio of 0.78 and a debt-to-equity ratio of 14.11. The firm has a fifty day simple moving average of C$18.30 and a 200-day simple moving average of C$16.69. The stock has a market cap of C$3.69 billion, a price-to-earnings ratio of 11.83, a P/E/G ratio of 0.59 and a beta of 0.24.

About NuVista Energy

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.