Tamarack Valley Energy (TSE:TVE) Price Target Reduced to CA$7.50



Tamarack Valley Energy (TSE:TVE – Get Rating) saw its target price drop by Royal Bank of Canada equity research analysts from C$8.00 to C$7.50 in a research report released on Friday, BayStreet.CA reports. The company currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 68.54% from the stock’s previous close.

TVE has been the subject of several other reports. Raymond James raised his price target on Tamarack Valley Energy from C$7.25 to C$7.50 and gave the stock a “Strong Buy” rating in a Tuesday, July 5 research report. CIBC lowered its target price on Tamarack Valley Energy from CA$8.00 to CA$6.50 in a Wednesday, July 13 research report. Stifel Nicolaus lowered his price target on Tamarack Valley Energy from CA$7.50 to CA$7.25 in a Monday, July 4 report. National Bankshares lowered its price target on Tamarack Valley Energy from CA$8.50 to CA$8.00 and set an “outperform” rating for the stock in a report released Monday, July 18. Finally, ATB Capital raised its price target on Tamarack Valley Energy from C$6.50 to C$6.75 and gave the company a “Strong Buy” rating in a Friday, April 22 report. One analyst gave the stock a hold rating, six gave the stock a buy rating and two gave the company a high buy rating. According to data from MarketBeat.com, the company has a consensus buy rating and a consensus price target of C$6.55.

Tamarack Valley Energy Stock Performance

Shares of TVE opened at C$4.45 on Friday. 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 has a fifty-two week low of C$2.07 and a fifty-two week high of C$6.48. The stock’s 50-day moving average is C$4.77 and its 200-day moving average is C$4.89. The company has a market capitalization of C$1.97 billion and a P/E ratio of 3.90.

Tamarack Valley Energy (TSE:TVE – Get Rating) last released its results on Tuesday, May 3. The company reported earnings per share of C$0.06 for the quarter, missing the consensus estimate of C$0.17 by C$0.11. The company recorded revenue of C$298.90 million during the quarter. Analysts expect Tamarack Valley Energy to post earnings per share of 0.9799999 for the current fiscal year.

Insider Activity at Tamarack Valley Energy

In other Tamarack Valley Energy news, Director Ian Robert Currie bought 8,775 shares of the company in a deal that took place on Friday May 6. The shares were purchased at an average price of CA$5.05 per share, for a total transaction of CA$44,313.75. Following the purchase, the director now directly owns 681,351 shares of the company, valued at C$3,440,822.55. In other Tamarack Valley Energy news, Director Marnie Smith purchased 19,097 shares of the company in a trade that took place on Wednesday, May 11. The stock was purchased at an average price of CA$4.64 per share, for a total transaction of CA$88,610.08. Following the purchase, the director now directly owns 124,584 shares of the company, valued at C$578,069.76. Additionally, director Ian Robert Currie acquired 8,775 shares of Tamarack Valley Energy in a trade on Friday, May 6. The shares were purchased at an average price of CA$5.05 per share, with a total value of CA$44,313.75. As a result of the transaction, the administrator now directly owns 681,351 shares of the company, valued at approximately C$3,440,822.55.

Tamarack Valley Energy Company Profile

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Tamarack Valley Energy Ltd. engages in the acquisition, exploration, development and production of oil, natural gas and natural gas liquids in the Western Canada 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.

See also

Analyst Recommendations for Tamarack Valley Energy (TSE: TVE)



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