Tamarack Valley Energy (TSE:TVE) Given New C$17.00 Price Target at Royal Bank Of Canada

Tamarack Valley Energy (TSE:TVE) had its price target boosted by stock analysts at Royal Bank Of Canada from C$15.00 to C$17.00 in a research note issued on Wednesday, BayStreet reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 15.72% from the company’s current price.

Other research analysts also recently issued research reports about the company. Desjardins increased their target price on Tamarack Valley Energy from C$16.00 to C$16.50 and gave the stock a “buy” rating in a report on Wednesday, September 9th. Raymond James Financial boosted their price target on Tamarack Valley Energy from C$16.00 to C$17.00 and gave the company an “outperform” rating in a report on Wednesday, September 9th. Scotiabank set a C$17.00 price target on Tamarack Valley Energy and gave the company a “sector outperform” rating in a report on Wednesday, September 30th. Jefferies Financial Group set a C$17.00 price target on Tamarack Valley Energy and gave the company a “buy” rating in a research report on Tuesday, August 18th. Finally, Canaccord Genuity Group upped their price target on Tamarack Valley Energy from C$15.00 to C$16.00 and gave the company a “buy” rating in a research report on Wednesday, September 9th. Eleven equities research analysts have rated the stock with a Buy rating. Based on data from MarketBeat, Tamarack Valley Energy has a consensus rating of “Buy” and an average target price of C$14.60.

Tamarack Valley Energy Stock Up 0.8%

TSE:TVE traded up C$0.11 during mid-day trading on Wednesday, reaching C$14.69. The stock had a trading volume of 948,470 shares, compared to its average volume of 2,123,551. The company has a market capitalization of C$6.96 billion, a price-to-earnings ratio of 209.86 and a beta of 0.41. Tamarack Valley Energy has a 1-year low of C$6.06 and a 1-year high of C$15.15. The stock’s 50 day simple moving average is C$13.59 and its two-hundred day simple moving average is C$12.92. The company has a debt-to-equity ratio of 18.26, a current ratio of 2.30 and a quick ratio of 0.80.

Tamarack Valley Energy (TSE:TVE) last announced its quarterly earnings data on Tuesday, July 28th. The company reported C$0.43 earnings per share for the quarter. Tamarack Valley Energy had a return on equity of 1.34% and a net margin of 1.50%. The firm had revenue of C$493.95 million during the quarter. Equities analysts anticipate that Tamarack Valley Energy will post 0.14 EPS for the current year.

Insider Activity

In other Tamarack Valley Energy news, Director Caralyn Patricia Bennett purchased 36,568 shares of the firm’s stock in a transaction dated Monday, September 21st. The stock was acquired at an average cost of C$13.26 per share, with a total value of C$484,891.68. Following the acquisition, the director owned 169,192 shares of the company’s stock, valued at approximately C$2,243,485.92. This represents a 27.57% increase in their position. Also, insider Kevin James Johnston acquired 7,500 shares of the stock in a transaction that occurred on Thursday, September 17th. The shares were acquired at an average cost of C$13.44 per share, with a total value of C$100,800.00. Following the transaction, the insider owned 104,491 shares in the company, valued at approximately C$1,404,359.04. The trade was a 7.73% increase in their ownership of the stock. Insiders bought a total of 44,458 shares of company stock valued at $590,957 over the last ninety days. 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.