Tamarack Valley Energy (TSE:TVE) PT Set at C$17.00 by Scotiabank

Key Points

• Scotiabank set a C$17.00 price target on Tamarack Valley Energy and maintained a “sector outperform” rating, implying approximately 28% upside from the stock’s C$13.27 trading price.
• Analyst sentiment remains positive: all 11 analysts tracked by MarketBeat rate the stock a Buy, though the consensus price target is lower at C$14.19.
• Insiders have recently increased their holdings, purchasing 44,458 shares worth roughly C$591,000 over the past three months, including sizeable buys by an insider and a director.

Tamarack Valley Energy (TSE:TVE - Get Free Report) received a C$17.00 price objective from stock analysts at Scotiabank in a research report issued to clients and investors on Wednesday, BayStreet reports. The firm presently has a "sector outperform" rating on the stock. Scotiabank's target price indicates a potential upside of 28.11% from the stock's current price.

TVE has been the subject of several other reports. Raymond James Financial boosted their target price 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. Desjardins raised their target price on Tamarack Valley Energy from C$16.00 to C$16.50 and gave the company a "buy" rating in a report on Wednesday, September 9th. Canaccord Genuity Group lifted their price target 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. Finally, Jefferies Financial Group set a C$17.00 price target on Tamarack Valley Energy and gave the stock a "buy" rating in a report on Tuesday, August 18th. Eleven equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of C$14.19.

Tamarack Valley Energy Price Performance

Tamarack Valley Energy stock traded up C$0.23 during mid-day trading on Wednesday, reaching C$13.27. 772,408 shares of the company were exchanged, compared to its average volume of 2,072,204. The company has a fifty day simple moving average of C$13.36 and a 200-day simple moving average of C$12.63. Tamarack Valley Energy has a 12 month low of C$5.93 and a 12 month high of C$14.42. 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 has a market cap of C$6.28 billion, a PE ratio of 189.57 and a beta of 0.26.

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

Insider Transactions at Tamarack Valley Energy

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

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