Tamarack Valley Energy (TSE:TVE) Stock Rating Upgraded by Desjardins

Tamarack Valley Energy (TSE:TVE) was upgraded by investment analysts at Desjardins to a “moderate buy” rating in a report released on Thursday,Zacks.com reports.

A number of other analysts have also recently weighed in on the stock. Raymond James Financial raised shares of Tamarack Valley Energy from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from C$12.00 to C$15.00 in a report on Friday, May 29th. Roth Capital set a C$15.00 target price on shares of Tamarack Valley Energy and gave the company a “buy” rating in a research note on Tuesday, May 19th. Canaccord Genuity Group upgraded shares of Tamarack Valley Energy from a “hold” rating to a “buy” rating and upped their target price for the stock from C$12.00 to C$15.00 in a research report on Friday, May 29th. Royal Bank Of Canada raised their price target on shares of Tamarack Valley Energy from C$11.00 to C$12.00 and gave the company an “outperform” rating in a research note on Monday, April 13th. Finally, Canadian Imperial Bank of Commerce lifted their price target on Tamarack Valley Energy from C$14.25 to C$15.25 and gave the company an “outperformer” rating in a report on Friday, May 29th. Nine analysts have rated the stock with a Buy rating, According to data from MarketBeat, Tamarack Valley Energy has a consensus rating of “Buy” and an average price target of C$13.28.

Tamarack Valley Energy Trading Up 2.9%

TSE:TVE opened at C$13.21 on Thursday. The firm has a market capitalization of C$6.32 billion, a P/E ratio of -73.39 and a beta of 0.33. The business has a 50 day simple moving average of C$12.83 and a 200 day simple moving average of C$11.06. The company has a debt-to-equity ratio of 38.89, a current ratio of 0.69 and a quick ratio of 0.80. Tamarack Valley Energy has a 12-month low of C$4.98 and a 12-month high of C$14.03.

Tamarack Valley Energy (TSE:TVE) last issued its earnings results on Wednesday, May 6th. The company reported C$0.20 earnings per share for the quarter. The firm had revenue of C$375.55 million for the quarter. Tamarack Valley Energy had a negative return on equity of 5.03% and a negative net margin of 6.60%. Equities research analysts predict that Tamarack Valley Energy will post 0.1386527 EPS for the current year.

Insider Activity at Tamarack Valley Energy

In related news, Director Rene Amirault bought 78,500 shares of the stock in a transaction on Wednesday, June 3rd. The shares were purchased at an average price of C$13.09 per share, with a total value of C$1,027,565.00. Following the purchase, the director owned 454,602 shares in the company, valued at approximately C$5,950,740.18. This represents a 20.87% increase in their ownership of the stock. Also, Director Shannon Joseph bought 27,521 shares of the stock in a transaction on Tuesday, June 16th. The shares were bought at an average cost of C$12.56 per share, for a total transaction of C$345,663.76. Following the purchase, the director owned 66,376 shares in the company, valued at C$833,682.56. This trade represents a 70.83% increase in their position. Company insiders own 1.32% of the company’s stock.

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.