Tamarack Valley Energy (TSE:TVE) Price Target Raised to C$6.25 at ATB Capital

Key Points

• ATB Capital has raised the price target for Tamarack Valley Energy from C$6.00 to C$6.25, suggesting a potential upside of 14.68% from the current stock price.
• The average analyst rating for Tamarack Valley Energy is a "Moderate Buy", with a consensus price target of C$6.33, while some analysts have recently adjusted their price targets downward.
• Tamarack Valley Energy's stock fell 0.2% to C$5.45 during midday trading, despite a market capitalization of C$2.88 billion and recent insider buying activity.

Tamarack Valley Energy (TSE:TVE - Get Free Report) had its price objective raised by ATB Capital from C$6.00 to C$6.25 in a report issued on Thursday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. ATB Capital's target price would suggest a potential upside of 17.70% from the company's previous close.

Other analysts have also recently issued reports about the company. Desjardins cut Tamarack Valley Energy from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, June 3rd. CIBC lowered their target price on Tamarack Valley Energy from C$6.50 to C$5.50 in a research report on Thursday, April 10th. Raymond James Financial raised their target price on Tamarack Valley Energy from C$5.00 to C$5.50 in a research report on Thursday, June 26th. Finally, Royal Bank Of Canada lifted their price target on Tamarack Valley Energy from C$6.00 to C$7.00 and gave the company an "outperform" rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Tamarack Valley Energy currently has an average rating of "Moderate Buy" and an average price target of C$6.33.

Tamarack Valley Energy Stock Performance

TVE traded down C$0.13 during trading hours on Thursday, hitting C$5.31. The company's stock had a trading volume of 1,679,655 shares, compared to its average volume of 2,103,787. Tamarack Valley Energy has a fifty-two week low of C$3.10 and a fifty-two week high of C$5.53. The company has a current ratio of 0.73, a quick ratio of 0.80 and a debt-to-equity ratio of 34.61. The firm has a market capitalization of C$2.80 billion, a PE ratio of 13.60 and a beta of 2.49. The company has a 50-day simple moving average of C$4.89 and a 200 day simple moving average of C$4.41.

Insider Activity

In related news, Director Rene Amirault acquired 85,500 shares of Tamarack Valley Energy stock in a transaction dated Monday, May 12th. The stock was acquired at an average cost of C$4.12 per share, with a total value of C$352,260.00. Company 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.