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

Key Points

• NuVista Energy's stock price has crossed above its 200-day moving average, trading at C$14.30 after hitting a high of C$14.58.
• Analysts have varying ratings for NuVista Energy, with a consensus rating of "Moderate Buy" and a target price of C$17.14, although some firms have adjusted their target prices based on recent market performance.
• Insider trading activity included a purchase of 18,000 shares by Senior Officer Michael Lawford, indicating potential confidence in the company's future, though insiders have also sold over 236,000 shares in the past 90 days.

Shares of NuVista Energy Ltd. (TSE:NVA - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$13.26 and traded as high as C$14.58. NuVista Energy shares last traded at C$14.30, with a volume of 677,766 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have issued reports on NVA shares. Desjardins raised shares of NuVista Energy from a "hold" rating to a "moderate buy" rating in a report on Monday, May 12th. CIBC decreased their price objective on shares of NuVista Energy from C$19.50 to C$18.00 in a report on Thursday, April 10th. Royal Bank Of Canada increased their target price on NuVista Energy from C$14.00 to C$16.00 and gave the company a "sector perform" rating in a research note on Monday, June 30th. Raymond James Financial lowered NuVista Energy from a "moderate buy" rating to a "hold" rating and set a C$17.00 target price for the company. in a research report on Thursday, July 3rd. Finally, National Bankshares raised their price target on shares of NuVista Energy from C$16.00 to C$18.60 and gave the company an "outperform" rating in a report on Thursday. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, NuVista Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of C$17.43.

NuVista Energy Price Performance

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$2.97 billion, a P/E ratio of 10.16, a price-to-earnings-growth ratio of 0.59 and a beta of 2.57. The firm's 50-day moving average is C$14.54 and its 200-day moving average is C$13.28.

Insider Activity at NuVista Energy

In related news, Senior Officer Joshua Thomas Truba sold 22,000 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of C$15.45, for a total transaction of C$339,900.00. Also, Senior Officer Ryan Daniel Paulgaard sold 10,000 shares of the business's stock in a transaction on Monday, June 16th. The stock was sold at an average price of C$15.46, for a total transaction of C$154,600.00. Insiders have sold 236,437 shares of company stock worth $3,441,605 in the last three months. Corporate insiders own 20.25% of the company's stock.

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.