Tamarack Valley Energy (TSE:TVE) Stock Price Expected to Rise, ATB Cormark Capital Markets Analyst Says

Key Points

• ATB Cormark raised Tamarack Valley Energy’s price target from C$16.00 to C$17.25 and maintained an “outperform” rating, implying 17.75% upside from the reported C$14.65 share price.
• Analyst sentiment remains positive: eleven analysts rate the stock a Buy, with a consensus target of C$15.08; several firms, including Scotiabank, RBC, Desjardins, Jefferies, and Raymond James, also issued outperform or buy ratings.
• TVE shares fell 0.7% in mid-day trading, while insiders bought 44,458 shares worth approximately C$591,000 during the last quarter, signaling increased insider ownership.

Tamarack Valley Energy (TSE:TVE - Get Free Report) had its target price lifted by investment analysts at ATB Cormark Capital Markets from C$16.00 to C$17.25 in a note issued to investors on Thursday, BayStreet reports. The brokerage currently has an "outperform" rating on the stock. ATB Cormark Capital Markets's price objective indicates a potential upside of 17.75% from the stock's current price.

A number of other research analysts also recently weighed in on TVE. Scotiabank set a C$17.00 target price on shares of Tamarack Valley Energy and gave the company a "sector outperform" rating in a research report on Wednesday, September 30th. Desjardins lifted their price target on shares of Tamarack Valley Energy from C$16.00 to C$16.50 and gave the company a "buy" rating in a research note on Wednesday, September 9th. Royal Bank Of Canada boosted their price target on shares of Tamarack Valley Energy from C$15.00 to C$17.00 and gave the stock an "outperform" rating in a research report on Wednesday. Jefferies Financial Group set a C$17.00 price target on shares of Tamarack Valley Energy and gave the stock a "buy" rating in a research report on Tuesday, August 18th. Finally, Raymond James Financial increased their price objective on shares of Tamarack Valley Energy from C$16.00 to C$17.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 9th. Eleven investment analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of C$15.08.

Tamarack Valley Energy Stock Down 0.7%

Shares of TVE traded down C$0.10 during mid-day trading on Thursday, hitting C$14.65. 3,469,393 shares of the company's stock were exchanged, compared to its average volume of 2,131,654. The company has a market cap of C$6.94 billion, a PE ratio of 209.29 and a beta of 0.41. Tamarack Valley Energy has a 52 week low of C$6.06 and a 52 week high of C$15.15. The company has a 50-day simple moving average of C$13.62 and a 200 day simple moving average of C$12.95. The company has a debt-to-equity ratio of 18.26, a current ratio of 2.30 and a quick ratio of 0.80.

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

Insider Buying and Selling

In related news, Director Caralyn Patricia Bennett acquired 36,568 shares of the business's stock in a transaction dated Monday, September 21st. The stock was bought at an average price of C$13.26 per share, with a total value of C$484,891.68. Following the acquisition, the director owned 169,192 shares in the company, valued at C$2,243,485.92. This represents a 27.57% increase in their position. Also, insider Kevin James Johnston acquired 7,500 shares of the business's stock in a transaction dated Thursday, September 17th. The stock was bought at an average cost of C$13.44 per share, with a total value of C$100,800.00. Following the acquisition, the insider owned 104,491 shares in the company, valued at C$1,404,359.04. The trade was a 7.73% increase in their position. In the last quarter, insiders have bought 44,458 shares of company stock worth $590,957. Company insiders own 1.32% of the company's stock.

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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