Tamarack Valley Energy (TSE:TVE) Cut to Market Perform at Raymond James Financial

Tamarack Valley Energy (TSE:TVE) was downgraded by research analysts at Raymond James Financial from an “outperform” rating to a “market perform” rating in a research report issued on Tuesday,BayStreet.CA reports.

Several other equities analysts have also commented on TVE. Canaccord Genuity Group upped their price target on shares of Tamarack Valley Energy from C$6.75 to C$8.00 in a research report on Thursday, December 4th. Royal Bank Of Canada upped their target price on shares of Tamarack Valley Energy from C$8.00 to C$9.00 and gave the stock an “outperform” rating in a research report on Thursday, December 4th. ATB Capital raised their price target on shares of Tamarack Valley Energy from C$7.25 to C$9.00 and gave the company an “outperform” rating in a research note on Thursday, December 4th. BMO Capital Markets raised their target price on shares of Tamarack Valley Energy from C$9.00 to C$11.00 in a research note on Friday, November 21st. Finally, Acumen Capital increased their price objective on shares of Tamarack Valley Energy from C$7.25 to C$7.50 and gave the company a “buy” rating in a report on Thursday, October 30th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$8.92.

Tamarack Valley Energy Stock Performance

TVE stock traded down C$0.24 during trading on Tuesday, hitting C$7.74. 652,336 shares of the company’s stock traded hands, compared to its average volume of 1,938,392. The company has a quick ratio of 0.80, a current ratio of 0.73 and a debt-to-equity ratio of 34.61. The stock has a fifty day moving average price of C$6.73 and a two-hundred day moving average price of C$5.73. Tamarack Valley Energy has a 52 week low of C$3.10 and a 52 week high of C$8.32. The stock has a market capitalization of C$3.81 billion, a price-to-earnings ratio of -45.53 and a beta of 0.95.

Tamarack Valley Energy (TSE:TVE) last issued its earnings results on Friday, October 31st. The company reported C($0.50) EPS for the quarter. The company had revenue of C$406.32 million during the quarter. Tamarack Valley Energy had a net margin of 13.48% and a return on equity of 9.89%. As a group, equities analysts anticipate that Tamarack Valley Energy will post 0.1386527 EPS for the current fiscal year.

Insider Activity

In other news, Director Shannon Joseph purchased 16,129 shares of Tamarack Valley Energy stock in a transaction that occurred on Thursday, November 6th. The stock was acquired at an average price of C$6.32 per share, for a total transaction of C$101,935.28. Following the transaction, the director owned 38,328 shares in the company, valued at C$242,232.96. The trade was a 72.66% increase in their ownership of the stock. 1.32% of the stock is owned by corporate insiders.

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.