Tamarack Valley Energy (TSE:TVE) price target raised to C$7.50


Tamarack Valley Energy (TSE:TVE – Get Rating) had its price target raised by Raymond James research analysts from C$7.25 to C$7.50 in a research note released to investors on Tuesday, BayStreet.CA reports. The company currently has a “Strong Buy” rating on the stock. Raymond James’ price target would point to a potential upside of 87.97% from the stock’s previous close.

Other research analysts have also published research reports on the company. Stifel Nicolaus cut his price target on Tamarack Valley Energy from C$7.50 to C$7.25 in a report on Monday. National Bankshares raised its price target on Tamarack Valley Energy from CA$8.00 to CA$8.50 and gave the company an “outperform” rating in a report released Friday, April 22. CIBC raised its target price on Tamarack Valley Energy from CA$7.00 to CA$7.50 and gave the company an “outperform” rating in a report released Friday, April 22. Royal Bank of Canada raised its price target on Tamarack Valley Energy from CA$7.00 to CA$7.50 and gave the company an “outperform” rating in a report released Friday, April 22. Finally, ATB Capital raised its price target on Tamarack Valley Energy from CA$6.50 to CA$6.75 and gave the stock a “Strong Buy” rating in a Friday, April 22 report. One investment analyst gave the stock a hold rating, six gave the stock a buy rating and three gave the stock a high buy rating. According to MarketBeat data, Tamarack Valley Energy currently has an average buy rating and an average price target of C$6.50.

Shares of TSE TVE traded lower C$0.58 at midday on Tuesday, hitting C$3.99. 5,351,891 shares of the company were traded, against an average volume of 3,955,551. Tamarack Valley Energy has a 52-week low of C$2.05 and a 52-week high of C$6.48. The company has a 50-day moving average price of C$5.04 and a 200-day moving average price of C$4.87. The company has a market cap of C$1.76 billion and a price-to-earnings ratio of 3.85. The company has a debt ratio of 39.24, a current ratio of 0.54 and a quick ratio of 0.50.

Tamarack Valley Energy (TSE:TVE – Get Rating) last reported quarterly earnings data on Tuesday, May 3. The company reported earnings per share (EPS) of C$0.06 for the quarter, missing analyst consensus estimates of C$0.17 by C$0.11. The company had revenue of C$298.90 million in the quarter. As a group, sell-side analysts expect Tamarack Valley Energy to post EPS of 0.63 for the current fiscal year.

Separately, director Marnie Smith bought 19,097 shares of the company in a trade on Wednesday, May 11. The shares were acquired at an average price of CA$4.64 per share, with a total value of CA$88,610.08. Following the completion of the purchase, the administrator now directly owns 124,584 shares of the company, valued at C$578,069.76. Additionally, director Ian Robert Currie bought 8,775 shares of the company in a trade on Friday, May 6. The shares were purchased at an average cost of C$5.05 per share, with a total value of C$44,313.75. Following the purchase, the director now owns 681,351 shares of the company, valued at C$3,440,822.55.

About Tamarack Valley Energy (Get an assessment)

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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Analyst Recommendations for Tamarack Valley Energy (TSE: TVE)

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