Tamarack Valley Energy (TSE:TVE) Reaches New 1-Year High – Time to Buy?

Tamarack Valley Energy Ltd (TSE:TVE) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$9.96 and last traded at C$9.93, with a volume of 349941 shares traded. The stock had previously closed at C$9.69.

Analyst Upgrades and Downgrades

TVE has been the topic of a number of analyst reports. National Bank Financial lifted their target price on shares of Tamarack Valley Energy from C$8.00 to C$9.00 and gave the company an “outperform” rating in a research note on Thursday, December 4th. BMO Capital Markets boosted their price objective on Tamarack Valley Energy from C$9.00 to C$11.00 in a research report on Friday, November 21st. Canadian Imperial Bank of Commerce upped their price objective 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, December 4th. Acumen Capital increased their target price on Tamarack Valley Energy from C$7.25 to C$7.50 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Finally, Raymond James Financial cut Tamarack Valley Energy from a “moderate buy” rating to a “hold” rating in a report on Tuesday, December 9th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$8.92.

Tamarack Valley Energy Trading Down 1.2%

The company has a debt-to-equity ratio of 34.61, a current ratio of 0.73 and a quick ratio of 0.80. The stock has a 50-day moving average price of C$8.58 and a two-hundred day moving average price of C$7.07. The stock has a market cap of C$4.76 billion, a PE ratio of -57.47 and a beta of 0.87.

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.