NuVista Energy (TSE:NVA) Sets New 1-Year High – Here’s Why

NuVista Energy Ltd. (TSE:NVA) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$18.52 and last traded at C$18.49, with a volume of 256261 shares. The stock had previously closed at C$18.17.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NVA. Desjardins raised NuVista Energy from a “hold” rating to a “moderate buy” rating in a research report on Thursday, October 16th. National Bankshares downgraded NuVista Energy from an “outperform” rating to a “sector perform” rating and lifted their price target for the stock from C$18.50 to C$20.00 in a research report on Wednesday, October 22nd. Scotiabank cut their price target on NuVista Energy from C$19.00 to C$18.00 in a report on Wednesday, November 5th. CIBC downgraded shares of NuVista Energy from an “outperform” rating to a “tender” rating and lowered their price objective for the stock from C$20.00 to C$18.00 in a research note on Friday, November 7th. Finally, Jefferies Financial Group downgraded shares of NuVista Energy from a “buy” rating to a “hold” rating and reduced their price target for the company from C$20.00 to C$18.00 in a report on Thursday, November 13th. Three analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$17.89.

NuVista Energy Stock Up 1.8%

The stock has a market capitalization of C$3.58 billion, a price-to-earnings ratio of 11.49, a price-to-earnings-growth ratio of 0.59 and a beta of 0.13. The firm has a 50 day simple moving average of C$16.75 and a 200-day simple moving average of C$15.27. The company has a debt-to-equity ratio of 14.11, a current ratio of 0.87 and a quick ratio of 0.78.

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.