Tamarack Valley Energy (TSE:TVE) Given New C$17.00 Price Target at Raymond James Financial

Key Points

• Raymond James raised Tamarack Valley Energy’s price target to C$17.00 from C$16.00 while maintaining an “outperform” rating, implying approximately 25.46% upside.
• Analyst sentiment remains positive: ten analysts rate the stock a Buy, with a consensus price target of C$13.93; several firms recently raised their targets or upgraded the shares.
• Shares traded at C$13.55, near their 12-month high of C$14.11. The company reported C$0.43 in quarterly EPS and C$493.95 million in revenue, while recent insider activity included both a director sale and a larger director purchase.

Tamarack Valley Energy (TSE:TVE - Get Free Report) had its price target raised by investment analysts at Raymond James Financial from C$16.00 to C$17.00 in a research note issued to investors on Wednesday, BayStreet reports. The firm currently has an "outperform" rating on the stock. Raymond James Financial's price target indicates a potential upside of 25.46% from the stock's current price.

Several other equities analysts have also recently commented on TVE. Canadian Imperial Bank of Commerce raised their target price on shares of Tamarack Valley Energy from C$14.25 to C$15.25 and gave the company an "outperformer" rating in a research note on Friday, May 29th. Desjardins boosted their price objective on Tamarack Valley Energy from C$16.00 to C$16.50 and gave the stock a "buy" rating in a report on Wednesday. Roth Capital set a C$15.00 price target on Tamarack Valley Energy and gave the company a "buy" rating in a report on Tuesday, May 19th. Canaccord Genuity Group upgraded shares of Tamarack Valley Energy from a "hold" rating to a "buy" rating and increased their target price for the stock from C$12.00 to C$15.00 in a research report on Friday, May 29th. Finally, Jefferies Financial Group set a C$17.00 target price on shares of Tamarack Valley Energy and gave the stock a "buy" rating in a research report on Tuesday, August 18th. Ten research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of C$13.93.

Tamarack Valley Energy Stock Performance

Shares of TSE TVE traded down C$0.25 during mid-day trading on Wednesday, hitting C$13.55. The company had a trading volume of 2,143,980 shares, compared to its average volume of 2,039,951. Tamarack Valley Energy has a 12 month low of C$5.47 and a 12 month high of C$14.11. The stock has a market cap of C$6.44 billion, a price-to-earnings ratio of 193.57 and a beta of 0.26. The company has a debt-to-equity ratio of 18.26, a current ratio of 2.30 and a quick ratio of 0.80. The firm's 50 day simple moving average is C$13.21 and its two-hundred day simple moving average is C$12.28.

Tamarack Valley Energy (TSE:TVE - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The company reported C$0.43 earnings per share for the quarter. Tamarack Valley Energy had a net margin of 1.50% and a return on equity of 1.34%. The business had revenue of C$493.95 million for the quarter. As a group, equities research analysts forecast that Tamarack Valley Energy will post 0.1386527 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Robert Spitzer sold 10,000 shares of Tamarack Valley Energy 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 transaction of C$130,200.00. Following the sale, the director owned 424,442 shares of the company's stock, valued at approximately C$5,526,234.84. This trade represents a 2.30% decrease in their position. Also, Director Shannon Joseph purchased 27,521 shares of the stock in a transaction on Tuesday, June 16th. The stock was acquired at an average cost of C$12.56 per share, for a total transaction of C$345,663.76. Following the acquisition, the director directly owned 66,376 shares in the company, valued at approximately C$833,682.56. This trade represents a 70.83% increase in their ownership of the stock. 1.32% of the stock is currently owned by company 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.

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