Desjardins Raises Tamarack Valley Energy (TSE:TVE) Price Target to C$10.50

Tamarack Valley Energy (TSE:TVE) had its target price raised by investment analysts at Desjardins from C$10.00 to C$10.50 in a research note issued on Thursday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Desjardins’ target price indicates a potential upside of 8.58% from the company’s previous close.

Several other equities analysts have also recently issued reports on the company. Acumen Capital lifted their price objective on Tamarack Valley Energy from C$7.25 to C$7.50 and gave the company a “buy” rating in a research note on Thursday, October 30th. ATB Cormark Capital Markets upped their price target on shares of Tamarack Valley Energy from C$7.25 to C$9.00 and gave the company an “outperform” rating in a research report on Thursday, December 4th. National Bank Financial lifted their target price on Tamarack Valley Energy from C$8.00 to C$9.00 and gave the company an “outperform” rating in a research note on Thursday, December 4th. Royal Bank Of Canada increased their price target on shares of Tamarack Valley Energy from C$8.00 to C$9.00 and gave the stock an “outperform” rating in a report on Thursday, December 4th. Finally, Canadian Imperial Bank of Commerce boosted their target price on shares of Tamarack Valley Energy from C$8.00 to C$9.00 and gave the stock an “outperform” rating in a research report on Thursday, December 4th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Tamarack Valley Energy has an average rating of “Moderate Buy” and an average target price of C$10.11.

Tamarack Valley Energy Trading Up 1.5%

Shares of TSE:TVE traded up C$0.14 during midday trading on Thursday, reaching C$9.67. 1,024,740 shares of the company’s stock were exchanged, compared to its average volume of 1,771,631. The firm’s 50 day simple moving average is C$8.71 and its two-hundred day simple moving average is C$7.18. The stock has a market cap of C$4.71 billion, a price-to-earnings ratio of -56.88 and a beta of 0.87. Tamarack Valley Energy has a fifty-two week low of C$3.10 and a fifty-two week high of C$10.05. The company has a debt-to-equity ratio of 34.61, a current ratio of 0.73 and a quick ratio of 0.80.

Tamarack Valley Energy (TSE:TVE) last released its quarterly earnings results on Wednesday, February 25th. The company reported C$0.10 EPS for the quarter. The business had revenue of C$304.60 million during the quarter. Tamarack Valley Energy had a return on equity of 9.89% and a net margin of 13.48%. As a group, sell-side analysts forecast that Tamarack Valley Energy will post 0.1386527 EPS for the current fiscal year.

About Tamarack Valley Energy

Tamarack Valley Energy Ltd. engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in the Western Canadian sedimentary basin. It primarily holds interests in Cardium light oil plays in Wilson Creek/Alder Flats/Pembina, and Garrington and Lochend areas in Alberta; Viking light oil resource plays in Redwater and Westlock in Alberta, as well as in the Consort area of southeast Alberta and Hoosier area of southwest Saskatchewan; Barons Sands light oil plays located in the Penny area of Southern Alberta; and heavy oil properties located in Hatton area of Saskatchewan.