NuVista Energy (TSE:NVA) Stock Price Passes Above 200-Day Moving Average After Analyst Downgrade

NuVista Energy Ltd. (TSE:NVA)’s stock price crossed above its 200-day moving average during trading on Tuesday after National Bank Financial upgraded the stock from a hold rating to a strong-buy rating. The stock has a 200-day moving average of C$13.94 and traded as high as C$16.32. NuVista Energy shares last traded at C$16.08, with a volume of 687,437 shares traded.

A number of other brokerages have also issued reports on NVA. CIBC cut their price objective on shares of NuVista Energy from C$19.50 to C$18.00 in a report on Thursday, April 10th. Raymond James Financial cut shares of NuVista Energy from a “moderate buy” rating to a “hold” rating and set a C$17.00 target price for the company. in a research note on Thursday, July 3rd. National Bankshares raised their target price on shares of NuVista Energy from C$16.00 to C$18.60 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Royal Bank Of Canada raised their price objective on NuVista Energy from C$14.00 to C$16.00 and gave the company a “sector perform” rating in a research report on Monday, June 30th. Finally, Desjardins upgraded NuVista Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, May 12th. Three analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$17.62.

Insider Activity

In related news, Senior Officer Michael Lawford acquired 18,000 shares of the stock in a transaction on Monday, July 7th. The stock was bought at an average cost of C$13.90 per share, with a total value of C$250,200.00. Also, Senior Officer Christopher Mark Alessandro Legrow acquired 3,000 shares of the stock in a transaction on Monday, July 7th. The stock was bought at an average cost of C$13.75 per share, with a total value of C$41,250.00. 20.25% of the stock is owned by insiders.

NuVista Energy Stock Down 3.7%

The firm has a market capitalization of C$3.17 billion, a PE ratio of 9.40, a PEG ratio of 0.59 and a beta of 0.52. The company has a fifty day simple moving average of C$14.86 and a two-hundred day simple moving average of C$13.94. The company has a debt-to-equity ratio of 14.11, a quick ratio of 0.78 and a current ratio of 0.87.

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.