Tamarack Valley Energy (TSE:TVE) Given New C$17.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised Tamarack Valley Energy’s price target from C$15.00 to C$17.00 and maintained an “outperform” rating, implying 15.72% upside from the prior close.
• Analyst sentiment is broadly positive: all 11 analysts rate the stock Buy, with a consensus target of C$14.60, while several firms have set targets between C$16.00 and C$17.00.
• Shares rose 0.8% to C$14.69, near the company’s 12-month high of C$15.15. Insiders have also purchased 44,458 shares worth roughly C$591,000 over the past three months.

Tamarack Valley Energy (TSE:TVE - Get Free Report) had its price objective lifted by analysts at Royal Bank Of Canada from C$15.00 to C$17.00 in a report released on Wednesday, BayStreet reports. The firm currently has an "outperform" rating on the stock. Royal Bank Of Canada's price target would indicate a potential upside of 15.72% from the stock's previous close.

A number of other equities analysts have also commented on the stock. Jefferies Financial Group set a C$17.00 price objective on shares of Tamarack Valley Energy and gave the stock a "buy" rating in a report on Tuesday, August 18th. Raymond James Financial upped their price objective on shares of Tamarack Valley Energy from C$16.00 to C$17.00 and gave the company an "outperform" rating in a research report on Wednesday, September 9th. Canaccord Genuity Group raised their target price on Tamarack Valley Energy from C$15.00 to C$16.00 and gave the company a "buy" rating in a research note on Wednesday, September 9th. Desjardins lifted their target price on Tamarack Valley Energy from C$16.00 to C$16.50 and gave the stock a "buy" rating in a research report on Wednesday, September 9th. Finally, Scotiabank set a C$17.00 target price on Tamarack Valley Energy and gave the stock a "sector outperform" rating in a research report on Wednesday, September 30th. Eleven analysts have rated the stock with a Buy rating. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of C$14.60.

Tamarack Valley Energy Stock Up 0.8%

Shares of TSE TVE traded up C$0.11 during trading on Wednesday, reaching C$14.69. 948,470 shares of the stock were exchanged, compared to its average volume of 2,123,551. The business's 50-day moving average price is C$13.59 and its 200 day moving average price is C$12.92. Tamarack Valley Energy has a twelve month low of C$6.06 and a twelve month high of C$15.15. The company has a quick ratio of 0.80, a current ratio of 2.30 and a debt-to-equity ratio of 18.26. The company has a market capitalization of C$6.96 billion, a price-to-earnings ratio of 209.86 and a beta of 0.41.

Tamarack Valley Energy (TSE:TVE - Get Free Report) last announced its earnings results on Tuesday, July 28th. The company reported C$0.43 earnings per share for the quarter. The business had revenue of C$493.95 million during the quarter. Tamarack Valley Energy had a net margin of 1.50% and a return on equity of 1.34%. As a group, equities analysts forecast that Tamarack Valley Energy will post 0.14 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Caralyn Patricia Bennett purchased 36,568 shares of the firm's stock in a transaction dated Monday, September 21st. The stock was acquired at an average price of C$13.26 per share, with a total value of C$484,891.68. Following the completion of the transaction, the director owned 169,192 shares of the company's stock, valued at C$2,243,485.92. This represents a 27.57% increase in their ownership of the stock. Also, insider Kevin James Johnston purchased 7,500 shares of the company's stock in a transaction that occurred on Thursday, September 17th. The stock was bought at an average price of C$13.44 per share, with a total value of C$100,800.00. Following the purchase, the insider owned 104,491 shares of the company's stock, valued at approximately C$1,404,359.04. The trade was a 7.73% increase in their position. Insiders have bought 44,458 shares of company stock valued at $590,957 in the last three months. Corporate 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.