Tamarack Valley Energy (TSE:TVE – Get Rating) had its price target raised by analysts at Royal Bank of Canada from C$6.50 to C$7.00 in a note issued to investors on Friday, BayStreet.CA reports. The company currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 29.15% from the company’s current price.
Other analysts have also recently published research reports on the company. ATB Capital raised its price target on Tamarack Valley Energy from C$4.75 to C$5.25 and gave the company an “na” rating in a Thursday, Dec. 16 research report. Raymond James reiterated a “Strong Buy” rating and issued a C$6.00 price target on Tamarack Valley Energy shares in a research report on Tuesday, February 1. National Bank Financial raised its price target on Tamarack Valley Energy to C$5.50 and gave the company an “outperform” rating in a Thursday, Dec. 16 research report. BMO Capital Markets raised its target price on Tamarack Valley Energy from C$5.25 to C$6.00 in a report on Friday. Finally, Acumen Capital raised its price target on Tamarack Valley Energy from CA$5.00 to CA$5.50 and gave the company a “buy” rating in a Friday, January 14, report. Two investment analysts gave the stock a hold rating, six gave the company a buy rating and two gave the company a high buy rating. According to data from MarketBeat.com, the company currently has an average buy rating and consensus target price of C$5.54.
TSE:TVE traded at C$0.25 during the midday session on Friday, reaching C$5.42. The stock had a trading volume of 4,329,683 shares, compared to an average volume of 3,860,460. The company has a debt ratio of 47.43, a quick ratio of 0.36 and a current ratio of 0.38. Tamarack Valley Energy has a one-year low of C$1.99 and a one-year high of C$5.51. The company has a 50-day moving average price of C$4.62 and a 200-day moving average price of C$3.67. The stock has a market capitalization of C$2.34 billion and a P/E ratio of 7.35.
Separately, senior officer Martin Malek purchased 55,647 shares of the company in a transaction dated Wednesday, December 22. The shares were purchased at an average cost of C$3.59 per share, for a total value of C$199,772.73. Following the completion of the purchase, the insider now owns 521,571 shares of the company, valued at approximately C$1,872,439.89. Additionally, senior officer Brian Leslie Schmidt sold 66,562 shares in a trade on Wednesday, January 5. The stock was sold at an average price of C$4.08, for a total value of C$271,572.96. Following the completion of the sale, the insider now directly owns 2,152,848 shares of the company, valued at C$8,783,619.84.
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 plays 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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