Tamarack Valley Energy (TSE:TVE) Stock Price Expected to Rise, CIBC Analyst Says

Tamarack Valley Energy (TSE:TVE) had its price target upped by analysts at CIBC from C$5.50 to C$5.75 in a research report issued to clients and investors on Friday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. CIBC’s target price points to a potential upside of 35.61% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. National Bankshares cut their target price on Tamarack Valley Energy from C$7.25 to C$6.75 in a research report on Friday, September 27th. Royal Bank of Canada upped their target price on Tamarack Valley Energy from C$4.50 to C$5.00 and gave the stock an “outperform” rating in a research report on Friday. BMO Capital Markets upgraded Tamarack Valley Energy from a “market perform” rating to an “outperform” rating in a research report on Friday, October 4th. Finally, Raymond James upgraded Tamarack Valley Energy to a “hold” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$5.23.

Tamarack Valley Energy Stock Performance

Shares of TSE TVE traded up C$0.09 during midday trading on Friday, hitting C$4.24. 5,071,113 shares of the company’s stock were exchanged, compared to its average volume of 2,402,383. The company has a debt-to-equity ratio of 41.72, a current ratio of 0.90 and a quick ratio of 0.80. The stock’s 50 day moving average price is C$3.97 and its 200-day moving average price is C$3.84. The firm has a market cap of C$2.31 billion, a P/E ratio of 18.48 and a beta of 2.49. Tamarack Valley Energy has a twelve month low of C$2.76 and a twelve month high of C$4.35.

Tamarack Valley Energy (TSE:TVE) last released its earnings results on Thursday, August 1st. The company reported C$0.17 earnings per share for the quarter. The firm had revenue of C$382.98 million during the quarter. Tamarack Valley Energy had a return on equity of 5.94% and a net margin of 8.66%. Equities research analysts anticipate that Tamarack Valley Energy will post 0.1386527 EPS for the current year.

Insider Buying and Selling at Tamarack Valley Energy

In other news, Senior Officer Christine Ezinga bought 8,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were bought at an average cost of C$3.67 per share, with a total value of C$29,367.20. Insiders have bought a total of 28,173 shares of company stock valued at $107,945 in the last three months. 1.32% of the stock is currently 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.