Tamarack Valley Energy (TSE:TVE) Price Target Raised to C$16.50

Tamarack Valley Energy (TSE:TVE) had its price target lifted by analysts at Desjardins from C$16.00 to C$16.50 in a note issued to investors on Wednesday, BayStreet reports. The firm currently has a “buy” rating on the stock. Desjardins’ price target suggests a potential upside of 21.77% from the company’s previous close.

A number of other research firms also recently issued reports on TVE. Canadian Imperial Bank of Commerce lifted their price objective on shares of Tamarack Valley Energy from C$14.25 to C$15.25 and gave the company an “outperformer” rating in a report on Friday, May 29th. Roth Capital set a C$15.00 price target on Tamarack Valley Energy and gave the company a “buy” rating in a report on Tuesday, May 19th. Canaccord Genuity Group upgraded Tamarack Valley Energy from a “hold” rating to a “buy” rating and boosted their price objective for the stock from C$12.00 to C$15.00 in a report on Friday, May 29th. Raymond James Financial raised their price target on shares of Tamarack Valley Energy from C$15.00 to C$16.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Finally, Jefferies Financial Group set a C$17.00 price objective on Tamarack Valley Energy and gave the company a “buy” rating in a report on Tuesday, August 18th. Ten equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Tamarack Valley Energy presently has a consensus rating of “Buy” and an average price target of C$13.93.

Tamarack Valley Energy Trading Down 1.8%

Shares of TVE traded down C$0.25 during trading hours on Wednesday, reaching C$13.55. The stock had a trading volume of 2,143,980 shares, compared to its average volume of 2,039,951. The firm has a 50-day moving average of C$13.21 and a 200 day moving average of C$12.28. The company has a quick ratio of 0.80, a current ratio of 2.30 and a debt-to-equity ratio of 18.26. The company has a market cap of C$6.44 billion, a P/E ratio of 193.57 and a beta of 0.26. Tamarack Valley Energy has a 52 week low of C$5.47 and a 52 week high of C$14.11.

Tamarack Valley Energy (TSE:TVE) last posted its earnings results on Tuesday, July 28th. The company reported C$0.43 earnings per share (EPS) for the quarter. Tamarack Valley Energy had a return on equity of 1.34% and a net margin of 1.50%.The business had revenue of C$493.95 million during the quarter. On average, sell-side analysts expect that Tamarack Valley Energy will post 0.1386527 earnings per share for the current fiscal year.

Insider Activity at Tamarack Valley Energy

In other news, Director Robert Spitzer sold 10,000 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of C$13.02, for a total value of C$130,200.00. Following the transaction, the director directly owned 424,442 shares of the company’s stock, valued at C$5,526,234.84. The trade was a 2.30% decrease in their position. Also, Director Shannon Joseph bought 27,521 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were bought at an average cost of C$12.56 per share, for a total transaction of C$345,663.76. Following the completion of the purchase, the director owned 66,376 shares of the company’s stock, valued at C$833,682.56. This represents a 70.83% increase in their ownership of the stock. Corporate insiders own 1.32% of the company’s stock.

Tamarack Valley Energy Company Profile

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.