NuVista Energy (TSE:NVA) Stock Price Passes Above Two Hundred 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.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NVA. Desjardins upgraded shares of NuVista Energy from a “hold” rating to a “moderate buy” rating in a research report on Thursday, October 16th. TD Securities lowered shares of 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. CIBC lowered shares of NuVista Energy from an “outperform” rating to a “tender” rating and lowered their target price for the stock from C$20.00 to C$18.00 in a report on Friday, November 7th. 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 research report on Wednesday, January 21st. Finally, Jefferies Financial Group lowered NuVista Energy from a “buy” rating to a “hold” rating and reduced their price target for the stock from C$20.00 to C$18.00 in a research report on Thursday, November 13th. Three analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$17.82.

NuVista Energy Trading Up 1.4%

The company’s fifty day simple moving average is C$18.29 and its two-hundred day simple moving average is C$16.66. The company has a market capitalization of C$3.69 billion, a price-to-earnings ratio of 11.83, a price-to-earnings-growth ratio of 0.59 and a beta of 0.24. The company has a quick ratio of 0.78, a current ratio of 0.87 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.