Tamarack Valley Energy (TSE:TVE) Given New C$9.00 Price Target at Raymond James Financial

Tamarack Valley Energy (TSE:TVE) had its target price lifted by Raymond James Financial from C$7.00 to C$9.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Raymond James Financial’s price target indicates a potential upside of 10.84% from the company’s current price.

Other analysts have also issued research reports about the company. National Bankshares raised their price target on Tamarack Valley Energy from C$8.00 to C$9.00 and gave the stock an “outperform” rating in a research note on Thursday. Acumen Capital upped their price objective on shares of Tamarack Valley Energy from C$7.25 to C$7.50 and gave the stock a “buy” rating in a report on Thursday, October 30th. Canaccord Genuity Group lifted their target price on shares of Tamarack Valley Energy from C$6.75 to C$8.00 in a research note on Thursday. Desjardins boosted their price target on shares of Tamarack Valley Energy from C$8.50 to C$8.75 and gave the company a “buy” rating in a research report on Thursday. Finally, BMO Capital Markets raised their price objective on shares of Tamarack Valley Energy from C$9.00 to C$11.00 in a report on Friday, November 21st. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$8.60.

Tamarack Valley Energy Trading Up 0.7%

Shares of Tamarack Valley Energy stock traded up C$0.06 during trading on Thursday, reaching C$8.12. 904,337 shares of the stock were exchanged, compared to its average volume of 1,947,351. The company has a quick ratio of 0.80, a current ratio of 0.73 and a debt-to-equity ratio of 34.61. The firm has a market cap of C$3.99 billion, a price-to-earnings ratio of -47.76 and a beta of 0.79. Tamarack Valley Energy has a 1 year low of C$3.10 and a 1 year high of C$8.32. The stock’s fifty day moving average is C$6.61 and its 200 day moving average is C$5.64.

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

Insider Activity

In other news, Director Shannon Joseph purchased 16,129 shares of the business’s stock in a transaction dated Thursday, November 6th. The shares were purchased at an average price of C$6.32 per share, for a total transaction of C$101,935.28. Following the completion of the acquisition, the director directly owned 38,328 shares in the company, valued at C$242,232.96. This represents a 72.66% increase in their position. 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.