NuVista Energy (TSE:NVA) Stock Passes Above Two Hundred Day Moving Average - Here's Why

NuVista Energy Ltd. (TSE:NVA - Get Free Report)'s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$13.22 and traded as high as C$13.91. NuVista Energy shares last traded at C$13.88, with a volume of 381,630 shares trading hands.

Wall Street Analyst Weigh In

NVA has been the topic of several analyst reports. Raymond James Financial lowered shares of NuVista Energy from a "moderate buy" rating to a "hold" rating and set a C$17.00 target price on the stock. in a report on Thursday, July 3rd. CIBC cut their target price on shares of NuVista Energy from C$19.50 to C$18.00 in a research note on Thursday, April 10th. Desjardins raised NuVista Energy from a "hold" rating to a "moderate buy" rating in a report on Monday, May 12th. Finally, Royal Bank Of Canada increased their price target on 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. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, NuVista Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of C$17.14.

NuVista Energy Stock Performance

The stock has a market cap of C$2.90 billion, a price-to-earnings ratio of 9.91, a P/E/G ratio of 0.59 and a beta of 2.57. The company has a current ratio of 0.87, a quick ratio of 0.78 and a debt-to-equity ratio of 14.11. The firm has a fifty day simple moving average of C$14.44 and a 200-day simple moving average of C$13.22.

Insider Activity at NuVista Energy

In other news, Senior Officer Christopher Mark Alessandro Legrow acquired 3,000 shares of the company's stock in a transaction on Monday, July 7th. The stock was purchased at an average cost of C$13.75 per share, with a total value of C$41,250.00. Also, Senior Officer Michael Lawford bought 18,000 shares of the business's stock in a transaction on Monday, July 7th. The shares were acquired at an average price of C$13.90 per share, for a total transaction of C$250,200.00. Insiders have sold a total of 236,437 shares of company stock valued at $3,441,605 over the last quarter. 20.25% of the stock is currently owned by corporate insiders.

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.