Tamarack Valley Energy (TSE:TVE) Given New C$5.00 Price Target at Cormark

Tamarack Valley Energy (TSE:TVE) had its price objective raised by Cormark from C$4.75 to C$5.00 in a report released on Thursday, BayStreet.CA reports. Cormark’s price target suggests a potential upside of 30.55% from the stock’s previous close.

TVE has been the subject of a number of other reports. ATB Capital reduced their target price on shares of Tamarack Valley Energy from C$6.00 to C$5.50 and set an “outperform” rating for the company in a report on Thursday, February 29th. BMO Capital Markets set a C$4.00 price objective on shares of Tamarack Valley Energy and gave the stock a “market perform” rating in a research note on Thursday, March 21st. Raymond James decreased their price objective on shares of Tamarack Valley Energy from C$5.00 to C$4.00 and set an “outperform” rating for the company in a research note on Friday, January 19th. Stifel Nicolaus increased their target price on shares of Tamarack Valley Energy from C$4.75 to C$5.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Finally, Desjardins increased their target price on shares of Tamarack Valley Energy from C$4.50 to C$4.75 and gave the stock a “buy” rating in a research report on Friday, March 22nd. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$4.95.

Tamarack Valley Energy Price Performance

Shares of Tamarack Valley Energy stock traded up C$0.08 on Thursday, hitting C$3.83. The company had a trading volume of 2,015,809 shares, compared to its average volume of 2,213,767. The business has a 50-day simple moving average of C$3.78 and a 200-day simple moving average of C$3.51. The company has a debt-to-equity ratio of 43.39, a current ratio of 0.52 and a quick ratio of 0.80. The company has a market cap of C$2.08 billion, a PE ratio of 22.47 and a beta of 2.59. Tamarack Valley Energy has a 52 week low of C$2.76 and a 52 week high of C$4.34.

Tamarack Valley Energy (TSE:TVE) last posted its quarterly earnings data on Wednesday, February 28th. The company reported C$0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.06 by C$0.04. The business had revenue of C$418.86 million during the quarter. Tamarack Valley Energy had a net margin of 6.70% and a return on equity of 4.34%. Research analysts expect that Tamarack Valley Energy will post 0.2799189 EPS for the current fiscal year.

Insider Activity

In other Tamarack Valley Energy news, Senior Officer Scott Shimek purchased 8,500 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The shares were acquired at an average price of C$4.08 per share, for a total transaction of C$34,680.00. In other news, Senior Officer Scott Shimek bought 8,500 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The shares were acquired at an average cost of C$4.08 per share, for a total transaction of C$34,680.00. Also, Senior Officer Christine Ezinga bought 21,150 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was purchased at an average price of C$3.74 per share, for a total transaction of C$79,012.17. In the last 90 days, insiders have acquired 47,718 shares of company stock worth $178,867. 1.15% 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.