Tamarack Valley Energy (TSE:TVE) Stock Price Expected to Rise, Desjardins Analyst Says

Tamarack Valley Energy (TSE:TVE) had its price objective raised by stock analysts at Desjardins from C$7.75 to C$8.50 in a report released on Monday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Desjardins’ price target points to a potential upside of 9.96% from the company’s previous close.

Several other research firms also recently weighed in on TVE. ATB Capital increased their price objective on Tamarack Valley Energy from C$7.00 to C$7.25 and gave the company an “outperform” rating in a report on Thursday, October 30th. CIBC upped their target price on shares of Tamarack Valley Energy from C$7.25 to C$8.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Royal Bank Of Canada increased their target price on shares of Tamarack Valley Energy from C$6.00 to C$7.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Acumen Capital boosted their price target on Tamarack Valley Energy from C$7.25 to C$7.50 and gave the company a “buy” rating in a research report on Thursday, October 30th. Finally, Canaccord Genuity Group cut Tamarack Valley Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 22nd. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Tamarack Valley Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of C$7.78.

Tamarack Valley Energy Stock Up 1.7%

TSE TVE traded up C$0.13 during trading hours on Monday, hitting C$7.73. 982,061 shares of the company were exchanged, compared to its average volume of 1,960,660. The company has a 50 day moving average of C$6.33 and a two-hundred day moving average of C$5.45. The company has a quick ratio of 0.80, a current ratio of 0.73 and a debt-to-equity ratio of 34.61. Tamarack Valley Energy has a 52-week low of C$3.10 and a 52-week high of C$7.79. The firm has a market cap of C$3.80 billion, a price-to-earnings ratio of -45.47 and a beta of 0.79.

Tamarack Valley Energy (TSE:TVE) last announced its quarterly earnings data on Friday, October 31st. The company reported C($0.50) EPS for the quarter. The firm had revenue of C$406.32 million during the quarter. Tamarack Valley Energy had a net margin of 13.48% and a return on equity of 9.89%. Equities research analysts anticipate that Tamarack Valley Energy will post 0.1386527 earnings per share for the current year.

Insider Transactions at Tamarack Valley Energy

In other news, Director Shannon Joseph bought 16,129 shares of the stock in a transaction on Thursday, November 6th. The stock was purchased at an average cost of C$6.32 per share, with a total value of C$101,935.28. Following the purchase, the director owned 38,328 shares of the company’s stock, valued at approximately C$242,232.96. The trade was a 72.66% increase in their ownership of the stock. Company insiders own 1.32% of the company’s stock.

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.