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

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

TVE has been the topic of a number of other research reports. Raymond James upgraded Tamarack Valley Energy to a “hold” rating in a research report on Thursday, October 17th. Royal Bank of Canada lifted their target price on Tamarack Valley Energy from C$4.50 to C$5.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. National Bankshares decreased their target price on Tamarack Valley Energy from C$7.00 to C$6.75 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. Acumen Capital lifted their target price on Tamarack Valley Energy from C$5.50 to C$6.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Canaccord Genuity Group lifted their target price on Tamarack Valley Energy from C$5.00 to C$5.75 in a research report on Thursday, December 5th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$5.55.

Tamarack Valley Energy Price Performance

Shares of TSE TVE traded down C$0.06 during mid-day trading on Friday, reaching C$4.62. The company had a trading volume of 1,818,604 shares, compared to its average volume of 1,925,363. The company has a debt-to-equity ratio of 41.72, a quick ratio of 0.80 and a current ratio of 0.90. Tamarack Valley Energy has a one year low of C$2.90 and a one year high of C$5.05. The firm has a market cap of C$2.51 billion, a price-to-earnings ratio of 20.09 and a beta of 2.49. The business’s 50-day simple moving average is C$4.55 and its 200 day simple moving average is C$4.15.

Insider Buying and Selling

In related news, Director Marnie Smith sold 9,668 shares of Tamarack Valley Energy stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of C$4.42, for a total value of C$42,732.56. 1.32% of the stock is owned by 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.