Tamarack Valley Energy (TSE:TVE – Get a Rating) had its price target raised by ATB Capital from CA$6.50 to CA$6.75 in a research note released on Friday, BayStreet.CA reports. ATB Capital’s price target would point to a potential upside of 35.27% from the company’s previous close.
A number of other analysts have also released reports on the stock. National Bankshares raised its target price on Tamarack Valley Energy shares from C$8.00 to C$8.50 and gave the company an “outperform” rating in a research note on Friday. Royal Bank of Canada raised its price target on Tamarack Valley Energy shares from C$6.50 to C$7.00 and gave the stock an “outperform” rating in a Friday research note March 4. Stifel Nicolaus reaffirmed a “buy” rating and issued a C$6.50 price target on Tamarack Valley Energy shares in a research note on Tuesday, February 1. Raymond James raised his price target on Tamarack Valley Energy shares from C$6.00 to C$7.00 and gave the stock a ‘strong buy’ rating in a Friday 25 research note. March. Finally, BMO Capital Markets raised its price target on Tamarack Valley Energy shares from C$5.25 to C$6.00 in a Friday, March 4 research note. Two research analysts gave the stock a hold rating, six gave the stock a buy rating and two gave the stock a high buy rating. According to data from MarketBeat, the stock currently has a consensus quote of “buy” and an average target price of C$6.10.
Shares of TVE were down C$0.13 during Friday trading hours, hitting C$4.99. 3,059,558 shares of the company were traded, against an average volume of 3,676,159. The company has a market capitalization of C$2.16 billion and a price/earnings ratio of 4.62. Tamarack Valley Energy has a 12-month low of C$2.05 and a 12-month high of C$6.09. The company has a current ratio of 0.93, a quick ratio of 0.85 and a debt ratio of 38.73. The stock’s 50-day moving average price is C$5.10 and its 200-day moving average price is C$4.33.
In other Tamarack Valley Energy news, Director Robert Spitzer acquired 32,685 shares of the company in a transaction dated Wednesday, March 9. The shares were purchased at an average price of CA$5.42 per share, for a total transaction of CA$176,992.54. Following the completion of the purchase, the director now directly owns 385,942 shares of the company, valued at C$2,089,914.52. Additionally, senior officer Brian Leslie Schmidt purchased 50,000 shares in a trade that took place on Monday, March 14. The shares were purchased at an average cost of CA$5.00 per share, for a total transaction of CA$250,000.00. Following the completion of the acquisition, the insider now directly owns 2,206,683 shares of the company, valued at approximately C$11,033,415.
Tamarack Valley Energy Company Profile (Get a rating)
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 the Cardium light oil fields at Wilson Creek/Alder Flats/Pembina and in the Garrington and Lochend areas of Alberta; The Viking light oil resource plays at Redwater and Westlock in Alberta, as well as in the Consort area of southeastern Alberta and the Hoosier area of southwestern Saskatchewan; the Barons Sands light oil fields located in the Penny region of southern Alberta; and heavy oil properties located in the Hatton area of Saskatchewan.
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