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

Shares of NuVista Energy Ltd. (TSE:NVA) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$12.72 and traded as high as C$13.37. NuVista Energy shares last traded at C$13.24, with a volume of 472,765 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NVA. National Bank Financial cut NuVista Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. National Bankshares lowered shares of NuVista Energy from an “outperform” rating to a “sector perform” rating and set a C$16.00 price target for the company. in a research report on Thursday, December 19th. TD Securities dropped their price objective on shares of NuVista Energy from C$17.00 to C$16.00 in a report on Tuesday, October 1st. Jefferies Financial Group raised their target price on shares of NuVista Energy from C$14.00 to C$19.00 in a report on Monday, December 16th. Finally, Cormark upgraded shares of NuVista Energy to a “strong-buy” rating in a research report on Monday, September 23rd. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$16.64.

NuVista Energy Price Performance

The stock has a market capitalization of C$2.73 billion, a PE ratio of 8.22, a P/E/G ratio of 0.59 and a beta of 2.57. The company has a debt-to-equity ratio of 15.03, a current ratio of 0.90 and a quick ratio of 0.78. The stock’s fifty day moving average is C$12.46 and its 200-day moving average is C$12.72.

Insiders Place Their Bets

In other news, Senior Officer Jonathan Andrew Wright sold 37,437 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of C$13.45, for a total transaction of C$503,527.65. Also, Senior Officer Michael Lawford sold 17,348 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of C$12.57, for a total transaction of C$218,064.36. Over the last quarter, insiders sold 130,121 shares of company stock worth $1,696,927. Company insiders own 20.25% of the company’s stock.

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.