NuVista Energy (TSE:NVA) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

NuVista Energy Ltd. (TSE:NVA) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$16.23 and traded as high as C$18.50. NuVista Energy shares last traded at C$18.40, with a volume of 1,242,341 shares.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NVA. Scotiabank reduced their price target on NuVista Energy from C$19.00 to C$18.00 in a research report on Wednesday, November 5th. Desjardins upgraded NuVista Energy from a “hold” rating to a “moderate buy” rating in a research report on Thursday, October 16th. Jefferies Financial Group cut shares of NuVista Energy from a “buy” rating to a “hold” rating and cut their price objective for the company from C$20.00 to C$18.00 in a research note on Thursday, November 13th. TD Securities downgraded shares of NuVista Energy from a “hold” rating to a “sell” rating and boosted their price target for the stock from C$17.00 to C$18.04 in a research note on Wednesday, November 5th. Finally, CIBC cut NuVista Energy from an “outperform” rating to a “tender” rating and reduced their price objective 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 given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, NuVista Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of C$17.76.

NuVista Energy Stock Down 0.3%

The firm has a market cap of C$3.56 billion, a PE ratio of 11.43, a PEG ratio of 0.59 and a beta of 0.01. The company has a debt-to-equity ratio of 14.11, a quick ratio of 0.78 and a current ratio of 0.87. The company’s 50-day simple moving average is C$18.17 and its two-hundred day simple moving average is C$16.24.

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.