Tamarack Valley Energy (TSE:TVE – Get Rating) had its target price raised by Raymond James from CA$6.00 to CA$7.00 in a research report delivered to clients and investors on Friday, BayStreet.CA reports. The company currently has a “Strong Buy” rating on the stock. Raymond James’ price target indicates a potential upside of 34.36% from the company’s previous close.
Several other equity research analysts also commented on TVE. CIBC raised its target price on Tamarack Valley Energy from C$6.00 to C$7.00 in a Thursday, March 3 research report. National Bankshares raised its price target on Tamarack Valley Energy shares from CA$5.00 to CA$5.50 and gave the company an “outperform” rating in a Thursday, Dec. 16 research note. ATB Capital raised its target price on Tamarack Valley Energy shares from C$4.75 to C$5.25 and gave the company an “na” rating in a Thursday, December 16 research report. National Bank Financial raised its price target on Tamarack Valley Energy shares to C$5.50 and gave the company an “outperform” rating in a Thursday, Dec. 16 research note. Finally, Acumen Capital raised its price target on Tamarack Valley Energy shares from C$5.00 to C$5.50 and gave the stock a “buy” rating in a Friday research report. January 14. Two equity research analysts gave the stock a hold rating, six gave the company a buy rating and two gave the company’s stock a strong buy rating. According to MarketBeat.com, the stock has a consensus buy quote and a consensus price target of C$5.63.
TVE traded C$0.08 during Friday’s trading, hitting C$5.21. 2,002,271 shares of shares traded in hands, compared to its average volume of 3,834,834. The company has a quick ratio of 0.85, a current ratio of 0.93 and a leverage ratio of 38 .73. The stock’s 50-day moving average is C$5.00 and its 200-day moving average is C$4.00. Tamarack Valley Energy has a 12-month low of C$2.05 and a 12-month high of C$6.09. The stock has a market capitalization of C$2.26 billion and a PE ratio of 4.84.
In other Tamarack Valley Energy news, Senior Officer Brian Leslie Schmidt purchased 50,000 shares in a trade dated 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. As a result of the purchase, the insider now directly owns 2,206,683 shares of the company, valued at approximately C$11,033,415. Additionally, director Robert Spitzer purchased 32,685 shares of the company in a trade on Wednesday, March 9. The stock was 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 owns 385,942 shares of the company, valued at C$2,089,914.52.
About Tamarack Valley Energy (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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