NuVista Energy (TSE:NVA) Shares Pass 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.

NuVista Energy Ltd. (TSE:NVA - Get Free Report) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred 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.

Analyst Ratings Changes

NVA has been the topic of several analyst reports. National Bankshares lifted their target price on NuVista Energy from C$16.00 to C$18.60 and gave the company an "outperform" rating in a research note on Thursday. National Bank Financial upgraded NuVista Energy from a "hold" rating to a "strong-buy" rating in a research note on Wednesday. Desjardins upgraded NuVista Energy from a "hold" rating to a "moderate buy" rating in a research note on Monday, May 12th. Raymond James Financial lowered NuVista Energy from a "moderate buy" rating to a "hold" rating and set a C$17.00 target price on the stock. in a research note on Thursday, July 3rd. Finally, Royal Bank Of Canada lifted 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. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, NuVista Energy has an average rating of "Buy" and an average 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 stock has a market cap of C$2.93 billion, a price-to-earnings ratio of 10.00, a P/E/G ratio of 0.59 and a beta of 2.57. The stock has a fifty day moving average of C$14.54 and a 200 day moving average of C$13.28.

Insider Buying and Selling

In other NuVista Energy news, Senior Officer Ryan Daniel Paulgaard sold 10,000 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of C$13.75, for a total value of C$137,500.00. Also, Senior Officer Jonathan Andrew Wright sold 88,283 shares of the business's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of C$14.50, for a total value of C$1,280,103.50. Insiders sold a total of 236,437 shares of company stock valued at $3,441,605 in the last three months. 20.25% of the stock is currently owned by company 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.