NuVista Energy (TSE:NVA) Share Price Crosses Above 200-Day Moving Average - What's Next?

Key Points

• NuVista Energy's share price has crossed above its 200-day moving average, reaching a high of C$16.23 before settling at C$15.88.
• CIBC and Scotiabank have recently increased their price targets for the stock, with CIBC raising it to C$20.00 and Scotiabank to C$19.00.
• Current analyst ratings reflect a consensus of Moderate Buy, with three analysts rating it as Strong Buy and four as Hold.

NuVista Energy Ltd. (TSE:NVA - Get Free Report)'s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$14.21 and traded as high as C$16.23. NuVista Energy shares last traded at C$15.88, with a volume of 441,463 shares traded.

Analyst Upgrades and Downgrades

NVA has been the topic of a number of recent analyst reports. CIBC increased their price target on shares of NuVista Energy from C$19.00 to C$20.00 in a report on Wednesday. Desjardins downgraded shares of NuVista Energy from a "buy" rating to a "hold" rating and lowered their price target for the stock from C$17.50 to C$17.00 in a report on Tuesday, August 26th. National Bank Financial raised shares of NuVista Energy from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 6th. Scotiabank increased their price target on shares of NuVista Energy from C$16.00 to C$19.00 in a report on Thursday, October 9th. Finally, Royal Bank Of Canada increased their price target on shares of NuVista Energy from C$14.00 to C$16.00 and gave the stock a "sector perform" rating in a report on Monday, June 30th. Three research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of C$18.07.

NuVista Energy Price Performance

The business's 50 day moving average is C$15.32 and its two-hundred day moving average is C$14.21. The firm has a market capitalization of C$3.13 billion, a PE ratio of 9.29, a P/E/G ratio of 0.59 and a beta of 0.46. The company has a debt-to-equity ratio of 14.11, a current ratio of 0.87 and a quick ratio of 0.78.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.