NuVista Energy (TSE:NVA) Share Price Crosses Above 200-Day Moving Average on Analyst Downgrade

Key Points

• NuVista Energy's stock price surged above its 200-day moving average, reaching C$16.32, after National Bank Financial upgraded it to a strong-buy rating.
• CIBC lowered its price objective for the stock to C$18.00, while Royal Bank of Canada raised its target to C$16.00, indicating mixed projections among analysts.
• Insider trading activity included purchases by senior officers, with Michael Lawford buying 18,000 shares at an average price of C$13.90, which reflects a strong internal confidence in the company.

NuVista Energy Ltd. (TSE:NVA - Get Free Report) 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 changing hands.

A number of other research analysts also recently weighed in on the stock. CIBC decreased their price objective on shares of NuVista Energy from C$19.50 to C$18.00 in a research report on Thursday, April 10th. Royal Bank Of Canada upped their price objective on shares of NuVista Energy from C$14.00 to C$16.00 and gave the stock a "sector perform" rating in a research report on Monday, June 30th. Raymond James Financial downgraded shares of NuVista Energy from a "moderate buy" rating to a "hold" rating and set a C$17.00 price objective for the company. in a research report on Thursday, July 3rd. National Bankshares upped their price target on shares of NuVista Energy from C$16.00 to C$18.60 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Finally, Desjardins upgraded shares of NuVista Energy from a "hold" rating to a "moderate buy" rating in a research report on Monday, May 12th. Three investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of C$17.62.

Insider Buying and Selling

In other NuVista Energy news, Senior Officer Michael Lawford purchased 18,000 shares of the firm's stock in a transaction on Monday, July 7th. The stock was bought at an average price 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 NuVista Energy stock in a transaction dated Monday, July 7th. The stock was purchased at an average price of C$13.75 per share, for a total transaction of C$41,250.00. Company insiders own 20.25% of the company's stock.

NuVista Energy Trading Down 3.7%

The company has a debt-to-equity ratio of 14.11, a current ratio of 0.87 and a quick ratio of 0.78. The company has a market capitalization of C$3.17 billion, a price-to-earnings ratio of 9.40, a price-to-earnings-growth ratio of 0.59 and a beta of 0.52. The business's 50 day simple moving average is C$14.86 and its 200 day simple moving average is C$13.94.

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.

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