Tamarack-Valley-Energy-Ltd (TSE:TVE) Cut to Hold at Canaccord Genuity
Tamarack-Valley-Energy-Ltd (TSE:TVE) was downgraded by stock analysts at Canaccord Genuity from a “buy” rating to a “hold” rating in a research report issued on Tuesday, July 11th. They presently have a C$2.50 price objective on the oil and natural gas company’s stock, down from their prior price objective of C$4.00. Canaccord Genuity’s target price would indicate a potential upside of 15.21% from the stock’s current price.
A number of other research firms also recently issued reports on TVE. Royal Bank Of Canada reiterated a “sector perform” rating and issued a C$4.00 price objective on shares of Tamarack-Valley-Energy-Ltd in a report on Friday, March 24th. Raymond James Financial, Inc. reiterated an “outperform” rating and issued a C$3.75 price objective on shares of Tamarack-Valley-Energy-Ltd in a report on Thursday, May 25th.
Tamarack-Valley-Energy-Ltd (TVE) traded up 2.84% during mid-day trading on Tuesday, reaching $2.17. 479,236 shares of the company traded hands. The company’s 50-day moving average is $2.21 and its 200-day moving average is $2.67. The stock’s market capitalization is $494.04 million. Tamarack-Valley-Energy-Ltd has a 12-month low of $1.96 and a 12-month high of $3.89.
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In other news, insider Gmt Capital Corp acquired 51,100 shares of the firm’s stock in a transaction on Wednesday, May 17th. The stock was acquired at an average price of C$1.70 per share, for a total transaction of C$86,870.00. In the last quarter, insiders acquired 491,100 shares of company stock valued at $845,838.
Tamarack-Valley-Energy-Ltd 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.
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