CIBC Increases Tamarack Valley Energy (TSE:TVE) Price Target to C$5.50

Tamarack Valley Energy (TSE:TVE) had its price objective lifted by research analysts at CIBC from C$5.25 to C$5.50 in a report released on Monday, BayStreet.CA reports. CIBC’s price target would suggest a potential upside of 38.19% from the company’s current price.

Other research analysts also recently issued reports about the company. Canaccord Genuity Group boosted their price objective on Tamarack Valley Energy from C$4.25 to C$4.75 and gave the company a “buy” rating in a research note on Wednesday, April 17th. BMO Capital Markets set a C$4.00 price objective on Tamarack Valley Energy and gave the company a “market perform” rating in a research note on Thursday, March 21st. Desjardins set a C$5.00 price objective on Tamarack Valley Energy and gave the company a “buy” rating in a research note on Tuesday, June 25th. Cormark boosted their price objective on Tamarack Valley Energy from C$4.75 to C$5.00 in a research note on Thursday, May 9th. Finally, Stifel Nicolaus boosted their price objective on Tamarack Valley Energy from C$5.25 to C$5.50 in a research note on Thursday, May 9th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$5.00.

Tamarack Valley Energy Trading Up 2.3 %

Shares of TSE TVE traded up C$0.09 during trading on Monday, reaching C$3.98. The company had a trading volume of 2,238,290 shares, compared to its average volume of 2,114,841. The company’s fifty day moving average price is C$3.68 and its 200-day moving average price is C$3.53. Tamarack Valley Energy has a 12 month low of C$2.76 and a 12 month high of C$4.34. The stock has a market cap of C$2.20 billion, a P/E ratio of 36.36 and a beta of 2.59. The company has a quick ratio of 0.80, a current ratio of 0.67 and a debt-to-equity ratio of 45.81.

Tamarack Valley Energy (TSE:TVE) last released its quarterly earnings results on Wednesday, May 8th. The company reported C($0.06) EPS for the quarter, missing analysts’ consensus estimates of C$0.04 by C($0.10). Tamarack Valley Energy had a net margin of 4.16% and a return on equity of 2.78%. The company had revenue of C$393.34 million during the quarter. As a group, research analysts expect that Tamarack Valley Energy will post 0.1714964 earnings per share for the current year.

Insider Buying and Selling

In other Tamarack Valley Energy news, Director Caralyn Patricia Bennett acquired 10,193 shares of the stock in a transaction that occurred on Monday, May 27th. The shares were bought at an average price of C$3.57 per share, for a total transaction of C$36,403.28. In other Tamarack Valley Energy news, Director Caralyn Patricia Bennett acquired 10,193 shares of the stock in a transaction that occurred on Monday, May 27th. The shares were bought at an average price of C$3.57 per share, for a total transaction of C$36,403.28. Also, Senior Officer Scott Shimek acquired 36,667 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was acquired at an average price of C$3.54 per share, for a total transaction of C$129,845.18. Over the last quarter, insiders have acquired 143,560 shares of company stock worth $526,970. Corporate insiders own 1.21% of the company’s stock.

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.