Tamarack Valley Energy (TSE:TVE) PT Set at C$16.00 by Desjardins

Tamarack Valley Energy (TSE:TVE) has been given a C$16.00 price target by stock analysts at Desjardins in a report issued on Friday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ target price points to a potential upside of 21.21% from the company’s previous close.

A number of other research firms have also recently commented on TVE. Canadian Imperial Bank of Commerce increased their target price on shares of Tamarack Valley Energy from C$14.25 to C$15.25 and gave the stock an “outperformer” rating in a report on Friday, May 29th. Royal Bank Of Canada increased their price objective on shares of Tamarack Valley Energy from C$11.00 to C$12.00 and gave the company an “outperform” rating in a research note on Monday, April 13th. Raymond James Financial raised shares of Tamarack Valley Energy from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from C$12.00 to C$15.00 in a research note on Friday, May 29th. Roth Capital set a C$15.00 price target on shares of Tamarack Valley Energy and gave the stock a “buy” rating in a report on Tuesday, May 19th. Finally, Canaccord Genuity Group raised Tamarack Valley Energy from a “hold” rating to a “buy” rating and raised their price objective for the company from C$12.00 to C$15.00 in a report on Friday, May 29th. Nine analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of C$13.28.

Tamarack Valley Energy Price Performance

Shares of TVE stock traded up C$0.36 during trading hours on Friday, reaching C$13.20. The company’s stock had a trading volume of 727,869 shares, compared to its average volume of 2,087,381. The firm’s 50 day simple moving average is C$12.80 and its 200-day simple moving average is C$11.05. The company has a market capitalization of C$6.31 billion, a price-to-earnings ratio of -73.33 and a beta of 0.33. Tamarack Valley Energy has a fifty-two week low of C$4.98 and a fifty-two week high of C$14.03. The company has a quick ratio of 0.80, a current ratio of 0.69 and a debt-to-equity ratio of 38.89.

Tamarack Valley Energy (TSE:TVE) last posted its quarterly earnings results on Wednesday, May 6th. The company reported C$0.20 EPS for the quarter. Tamarack Valley Energy had a negative return on equity of 5.03% and a negative net margin of 6.60%.The company had revenue of C$375.55 million during the quarter. Sell-side analysts forecast that Tamarack Valley Energy will post 0.1386527 earnings per share for the current year.

Insider Activity

In related news, Director Robert Spitzer sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of C$13.02, for a total value of C$130,200.00. Following the sale, the director directly owned 424,442 shares in the company, valued at C$5,526,234.84. This represents a 2.30% decrease in their ownership of the stock. Also, Director Rene Amirault purchased 78,500 shares of the stock in a transaction on Wednesday, June 3rd. The shares were purchased at an average price of C$13.09 per share, with a total value of C$1,027,565.00. Following the acquisition, the director owned 454,602 shares in the company, valued at approximately C$5,950,740.18. The trade was a 20.87% increase in their position. Insiders own 1.32% of the company’s stock.

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.