Tamarack Valley Energy (TSE:TVE) Stock Price Expected to Rise, ATB Cormark Capital Markets Analyst Says

by · The Markets Daily

Tamarack Valley Energy (TSE:TVE – Get Free Report) had its price objective hoisted by equities researchers at ATB Cormark Capital Markets from C$16.00 to C$17.25 in a research report issued on Thursday, BayStreet reports. The firm presently has an “outperform” rating on the stock. ATB Cormark Capital Markets‘s price target would suggest a potential upside of 17.75% from the company’s current price.

Several other analysts have also issued reports on TVE. Desjardins upped their price objective on Tamarack Valley Energy from C$16.00 to C$16.50 and gave the company a “buy” rating in a research note on Wednesday, September 9th. Scotiabank set a C$17.00 target price on Tamarack Valley Energy and gave the stock a “sector outperform” rating in a research note on Wednesday, September 30th. Royal Bank Of Canada boosted their target price on Tamarack Valley Energy from C$15.00 to C$17.00 and gave the stock an “outperform” rating in a report on Wednesday. Jefferies Financial Group set a C$17.00 price target on Tamarack Valley Energy and gave the company a “buy” rating in a research note on Tuesday, August 18th. Finally, Canaccord Genuity Group raised their price target on Tamarack Valley Energy from C$15.00 to C$16.00 and gave the company a “buy” rating in a report on Wednesday, September 9th. Eleven research analysts have rated the stock with a Buy rating. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of C$15.08.

Read Our Latest Research Report on TVE

Tamarack Valley Energy Stock Performance

TSE:TVE traded down C$0.10 during mid-day trading on Thursday, hitting C$14.65. The stock had a trading volume of 3,469,393 shares, compared to its average volume of 2,131,654. Tamarack Valley Energy has a twelve month low of C$6.06 and a twelve month high of C$15.15. The stock has a market cap of C$6.94 billion, a price-to-earnings ratio of 209.29 and a beta of 0.41. The company’s 50 day simple moving average is C$13.62 and its 200 day simple moving average is C$12.95. The company has a debt-to-equity ratio of 18.26, a quick ratio of 0.80 and a current ratio of 2.30.

Tamarack Valley Energy (TSE:TVE – Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported C$0.43 EPS for the quarter. The business had revenue of C$493.95 million during the quarter. Tamarack Valley Energy had a return on equity of 1.34% and a net margin of 1.50%. On average, equities research analysts forecast that Tamarack Valley Energy will post 0.14 earnings per share for the current year.

Insider Transactions at Tamarack Valley Energy

In related news, Director Caralyn Patricia Bennett purchased 36,568 shares of the stock in a transaction on Monday, September 21st. The shares were purchased at an average cost of C$13.26 per share, with a total value of C$484,891.68. Following the acquisition, the director directly owned 169,192 shares in the company, valued at C$2,243,485.92. The trade was a 27.57% increase in their ownership of the stock. Also, insider Kevin James Johnston acquired 7,500 shares of the business’s stock in a transaction on Thursday, September 17th. The shares were bought at an average price of C$13.44 per share, with a total value of C$100,800.00. Following the completion of the transaction, the insider directly owned 104,491 shares of the company’s stock, valued at approximately C$1,404,359.04. The trade was a 7.73% increase in their ownership of the stock. In the last quarter, insiders purchased 44,458 shares of company stock worth $590,957. 1.32% of the stock is owned by company insiders.

Tamarack Valley Energy Company Profile

(Get Free Report)

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.

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