NuVista Energy (TSE:NVA) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

NuVista Energy Ltd. (TSE:NVA)’s stock 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.

Analyst Ratings Changes

NVA has been the subject of a number of analyst reports. National Bankshares downgraded NuVista Energy from an “outperform” rating to a “sector perform” rating and raised their price target for the company from C$18.50 to C$20.00 in a research note on Wednesday, October 22nd. TD Securities downgraded NuVista Energy from a “hold” rating to a “sell” rating and increased their price objective for the company from C$17.00 to C$18.04 in a report on Wednesday, November 5th. BMO Capital Markets downgraded shares of NuVista Energy from an “outperform” rating to a “hold” rating in a report on Thursday, November 13th. Jefferies Financial Group lowered shares of 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 report on Thursday, November 13th. Finally, CIBC cut shares of NuVista Energy from an “outperform” rating to a “tender” rating and cut their price target for the company from C$20.00 to C$18.00 in a research note on Friday, November 7th. Three investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$17.82.

NuVista Energy Price 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 company has a market capitalization of C$3.69 billion, a P/E ratio of 11.83, a P/E/G ratio of 0.59 and a beta of 0.24. The company has a 50 day moving average price of C$18.29 and a 200 day moving average price of C$16.66.

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.