NuVista Energy (TSE:NVA) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

NuVista Energy Ltd. (TSE:NVA) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$12.92 and traded as high as C$14.29. NuVista Energy shares last traded at C$14.15, with a volume of 1,247,723 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on NVA shares. Raymond James cut their target price on shares of NuVista Energy from C$18.00 to C$17.00 in a research note on Wednesday, April 9th. Atb Cap Markets raised NuVista Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 25th. Cormark raised shares of NuVista Energy to a “strong-buy” rating in a report on Friday, March 7th. CIBC reduced their price objective on NuVista Energy from C$19.50 to C$18.00 in a research report on Thursday, April 10th. Finally, Desjardins raised shares of NuVista Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, May 12th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of C$17.28.

NuVista Energy Price Performance

The company’s 50 day moving average is C$12.72 and its 200-day moving average is C$12.92. 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 stock has a market cap of C$2.90 billion, a PE ratio of 9.89, a P/E/G ratio of 0.59 and a beta of 2.57.

Insider Transactions at NuVista Energy

In other NuVista Energy news, Senior Officer Michael Lawford sold 21,000 shares of the firm’s stock in a transaction on Friday, April 4th. The stock was sold at an average price of C$13.47, for a total value of C$282,870.00. Also, Senior Officer Ryan Daniel Paulgaard sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of C$13.75, for a total transaction of C$137,500.00. Over the last quarter, insiders sold 97,009 shares of company stock valued at $1,331,681. 20.25% of the stock is currently owned by corporate insiders.

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.