Tamarack Valley Energy Ltd (TSE:TVE) Receives Average Recommendation of “Hold” from Brokerages

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Tamarack Valley Energy Ltd (TSE:TVE) has been given an average rating of “Buy” by the twelve brokerages that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is C$2.02.

A number of research firms have issued reports on TVE. National Bank Financial boosted their price objective on shares of Tamarack Valley Energy from C$1.25 to C$1.50 and gave the company an “outperform” rating in a research report on Wednesday, June 24th. Cormark boosted their price target on shares of Tamarack Valley Energy from C$1.40 to C$1.65 in a research report on Friday, July 17th. Raymond James set a C$1.00 price target on shares of Tamarack Valley Energy and gave the company a “market perform” rating in a research report on Monday, July 13th. Finally, CIBC boosted their price target on shares of Tamarack Valley Energy from C$1.50 to C$1.75 in a research report on Monday, July 13th.

TSE TVE opened at C$0.82 on Tuesday. The company has a market capitalization of $181.10 million and a P/E ratio of -0.64. The company has a fifty day moving average of C$0.87 and a 200-day moving average of C$1.06. Tamarack Valley Energy has a 52-week low of C$0.39 and a 52-week high of C$2.44. The company has a debt-to-equity ratio of 42.49, a quick ratio of 0.57 and a current ratio of 1.50.

Tamarack Valley Energy (TSE:TVE) last issued its earnings results on Tuesday, May 12th. The company reported C$0.01 EPS for the quarter, hitting analysts’ consensus estimates of C$0.01. The business had revenue of C$65.87 million during the quarter, compared to analysts’ expectations of C$82.90 million. As a group, analysts forecast that Tamarack Valley Energy will post -0.12 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.

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Analyst Recommendations for Tamarack Valley Energy (TSE:TVE)

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