Tamarack Valley Energy (TSE:TVE) Stock Rating Lowered by Canaccord Genuity Group

Tamarack Valley Energy (TSE:TVE) was downgraded by Canaccord Genuity Group from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

TVE has been the subject of a number of other research reports. Royal Bank Of Canada lifted their price objective on shares of Tamarack Valley Energy from C$6.00 to C$7.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. CIBC raised their price objective on shares of Tamarack Valley Energy from C$6.25 to C$7.00 and gave the company an “outperform” rating in a research note on Friday, September 19th. Raymond James Financial lifted their price target on shares of Tamarack Valley Energy from C$6.00 to C$6.50 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Desjardins upgraded shares of Tamarack Valley Energy from a “hold” rating to a “moderate buy” rating in a research note on Thursday, October 16th. Finally, National Bankshares raised their price objective on shares of Tamarack Valley Energy from C$7.25 to C$7.50 and gave the stock an “outperform” rating in a report on Friday, September 19th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$6.58.

Tamarack Valley Energy Price Performance

Shares of TSE TVE opened at C$6.39 on Wednesday. Tamarack Valley Energy has a fifty-two week low of C$3.10 and a fifty-two week high of C$6.44. The business has a 50-day simple moving average of C$5.79 and a two-hundred day simple moving average of C$4.97. The company has a debt-to-equity ratio of 34.61, a quick ratio of 0.80 and a current ratio of 0.73. The company has a market cap of C$3.18 billion, a PE ratio of 13.31 and a beta of 1.10.

About Tamarack Valley Energy

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 Cardium light oil plays in Wilson Creek/Alder Flats/Pembina, and Garrington and Lochend areas in Alberta; Viking light oil resource plays in Redwater and Westlock in Alberta, as well as in the Consort area of southeast Alberta and Hoosier area of southwest Saskatchewan; Barons Sands light oil plays located in the Penny area of Southern Alberta; and heavy oil properties located in Hatton area of Saskatchewan.