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

NuVista Energy Ltd. (TSE:NVA) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$15.77 and traded as high as C$17.99. NuVista Energy shares last traded at C$17.96, with a volume of 665,274 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on NVA shares. CIBC lowered NuVista Energy from an “outperform” rating to a “tender” rating and decreased their price objective for the company from C$20.00 to C$18.00 in a research note on Friday, November 7th. Jefferies Financial Group cut NuVista Energy from a “buy” rating to a “hold” rating and decreased their price target for the company from C$20.00 to C$18.00 in a research report on Thursday, November 13th. Scotiabank cut their price objective on shares of NuVista Energy from C$19.00 to C$18.00 in a research report on Wednesday, November 5th. TD Securities lowered shares of NuVista Energy from a “hold” rating to a “sell” rating and upped their target price for the stock from C$17.00 to C$18.04 in a report on Wednesday, November 5th. Finally, National Bankshares cut shares of NuVista Energy from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from C$18.50 to C$20.00 in a research note on Wednesday, October 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, NuVista Energy has a consensus rating of “Moderate Buy” and a consensus price target of C$17.76.

NuVista Energy Trading Up 2.1%

The stock’s 50 day simple moving average is C$17.48 and its 200 day simple moving average is C$15.77. The firm has a market cap of C$3.48 billion, a PE ratio of 11.16, a PEG ratio of 0.59 and a beta of 0.17. The company has a debt-to-equity ratio of 14.11, a quick ratio of 0.78 and a current ratio of 0.87.

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.