CIBC Issues Positive Forecast for Tamarack Valley Energy (TSE:TVE) Stock Price

Tamarack Valley Energy (TSE:TVE) had its price target boosted by research analysts at CIBC from C$5.75 to C$6.50 in a research report issued to clients and investors on Friday,BayStreet.CA reports. CIBC’s target price suggests a potential upside of 40.69% from the company’s current price.

Several other research firms also recently commented on TVE. National Bankshares decreased their price objective on Tamarack Valley Energy from C$7.00 to C$6.75 and set an “outperform” rating for the company in a report on Thursday, December 19th. Acumen Capital boosted their price objective on Tamarack Valley Energy from C$5.50 to C$6.00 and gave the company a “buy” rating in a report on Friday, November 1st. Raymond James upgraded Tamarack Valley Energy to a “hold” rating in a report on Thursday, October 17th. BMO Capital Markets boosted their price objective on Tamarack Valley Energy from C$5.50 to C$6.00 in a report on Friday, December 13th. Finally, Royal Bank of Canada boosted their price objective on Tamarack Valley Energy from C$4.50 to C$5.00 and gave the company an “outperform” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Tamarack Valley Energy currently has an average rating of “Moderate Buy” and a consensus price target of C$5.55.

Tamarack Valley Energy Trading Down 1.3 %

TVE traded down C$0.06 during trading on Friday, hitting C$4.62. The company’s stock had a trading volume of 1,818,604 shares, compared to its average volume of 1,925,363. The firm has a market capitalization of C$2.51 billion, a P/E ratio of 20.09 and a beta of 2.49. Tamarack Valley Energy has a twelve month low of C$2.90 and a twelve month high of C$5.05. The stock’s fifty day moving average price is C$4.55 and its 200-day moving average price is C$4.15. The company has a quick ratio of 0.80, a current ratio of 0.90 and a debt-to-equity ratio of 41.72.

Insider Buying and Selling at Tamarack Valley Energy

In other news, Director Marnie Smith sold 9,668 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of C$4.42, for a total transaction of C$42,732.56. Corporate insiders own 1.32% 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.