Tamarack Valley Energy (TSE:TVE) Price Target Raised to C$17.00

Tamarack Valley Energy (TSE:TVE) had its price objective boosted by research analysts at Raymond James Financial from C$16.00 to C$17.00 in a report issued on Wednesday, BayStreet reports. The firm presently has an “outperform” rating on the stock. Raymond James Financial’s target price would suggest a potential upside of 25.46% from the company’s previous close.

A number of other research analysts also recently issued reports on the company. Canadian Imperial Bank of Commerce increased their price objective on Tamarack Valley Energy from C$14.25 to C$15.25 and gave the stock an “outperformer” rating in a report on Friday, May 29th. Roth Capital set a C$15.00 price target on shares of Tamarack Valley Energy and gave the company a “buy” rating in a research note on Tuesday, May 19th. Jefferies Financial Group set a C$17.00 target price on Tamarack Valley Energy and gave the stock a “buy” rating in a report on Tuesday, August 18th. Canaccord Genuity Group raised shares of Tamarack Valley Energy from a “hold” rating to a “buy” rating and increased their price target for the company from C$12.00 to C$15.00 in a report on Friday, May 29th. Finally, Desjardins boosted their target price on shares of Tamarack Valley Energy from C$16.00 to C$16.50 and gave the company a “buy” rating in a research report on Wednesday. Ten analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of C$13.93.

Tamarack Valley Energy Trading Down 1.8%

Shares of Tamarack Valley Energy stock traded down C$0.25 on Wednesday, hitting C$13.55. 2,143,980 shares of the company’s stock traded hands, compared to its average volume of 2,039,951. Tamarack Valley Energy has a one year low of C$5.47 and a one year high of C$14.11. The firm’s 50-day moving average price is C$13.21 and its two-hundred day moving average price is C$12.28. The company has a debt-to-equity ratio of 18.26, a current ratio of 2.30 and a quick ratio of 0.80. The stock has a market capitalization of C$6.44 billion, a PE ratio of 193.57 and a beta of 0.26.

Tamarack Valley Energy (TSE:TVE) last announced its quarterly earnings results on Tuesday, July 28th. The company reported C$0.43 earnings per share for the quarter. Tamarack Valley Energy had a net margin of 1.50% and a return on equity of 1.34%. The business had revenue of C$493.95 million for the quarter. On average, research analysts expect that Tamarack Valley Energy will post 0.1386527 EPS for the current fiscal year.

Insider Activity at Tamarack Valley Energy

In other news, Director Shannon Joseph acquired 27,521 shares of the stock in a transaction dated Tuesday, June 16th. The stock was bought at an average price of C$12.56 per share, with a total value of C$345,663.76. Following the completion of the purchase, the director directly owned 66,376 shares of the company’s stock, valued at C$833,682.56. This represents a 70.83% increase in their position. Also, Director Robert Spitzer sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of C$13.02, for a total transaction of C$130,200.00. Following the completion of the transaction, the director owned 424,442 shares of the company’s stock, valued at approximately C$5,526,234.84. This trade represents a 2.30% decrease in their ownership of the stock. 1.32% of the stock is owned by corporate insiders.

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.