ATB Capital Boosts Tamarack Valley Energy (TSE:TVE) Price Target to C$9.00

Tamarack Valley Energy (TSE:TVE) had its price objective upped by analysts at ATB Capital from C$7.25 to C$9.00 in a research note issued on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. ATB Capital’s price objective indicates a potential upside of 10.84% from the stock’s previous close.

A number of other brokerages also recently commented on TVE. CIBC boosted their price objective on shares of Tamarack Valley Energy from C$7.25 to C$8.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Raymond James Financial boosted their price target on shares of Tamarack Valley Energy from C$6.50 to C$7.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Canaccord Genuity Group upped their price target on shares of Tamarack Valley Energy from C$6.75 to C$8.00 in a research note on Thursday. National Bankshares increased their price objective on Tamarack Valley Energy from C$8.00 to C$9.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Desjardins boosted their target price on Tamarack Valley Energy from C$7.75 to C$8.50 and gave the company a “buy” rating in a research note on Monday, November 24th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$8.60.

Tamarack Valley Energy Price Performance

TSE:TVE traded up C$0.06 during trading hours on Thursday, reaching C$8.12. 904,337 shares of the company’s stock were exchanged, compared to its average volume of 1,947,351. The company has a quick ratio of 0.80, a current ratio of 0.73 and a debt-to-equity ratio of 34.61. The company has a market capitalization of C$3.99 billion, a P/E ratio of -47.76 and a beta of 0.79. Tamarack Valley Energy has a 12 month low of C$3.10 and a 12 month high of C$8.32. The business’s 50-day simple moving average is C$6.61 and its two-hundred day simple moving average is C$5.64.

Tamarack Valley Energy (TSE:TVE) last posted its quarterly earnings data on Friday, October 31st. The company reported C($0.50) earnings per share (EPS) for the quarter. The company had revenue of C$406.32 million for the quarter. Tamarack Valley Energy had a return on equity of 9.89% and a net margin of 13.48%. Sell-side analysts expect that Tamarack Valley Energy will post 0.1386527 EPS for the current fiscal year.

Insider Activity at Tamarack Valley Energy

In related news, Director Shannon Joseph purchased 16,129 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The shares were acquired at an average price of C$6.32 per share, with a total value of C$101,935.28. Following the purchase, the director directly owned 38,328 shares in the company, valued at C$242,232.96. This represents a 72.66% increase in their ownership of the stock. 1.32% of the stock is owned by company insiders.

Tamarack Valley Energy Company Profile

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.