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

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 hoisted by stock analysts at ATB Capital from C$6.00 to C$6.25 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. ATB Capital's target price would indicate a potential upside of 14.68% from the company's current price.

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

Tamarack Valley Energy Trading Down 0.2%

TVE stock traded down C$0.01 during midday trading on Thursday, reaching C$5.45. The company's stock had a trading volume of 847,204 shares, compared to its average volume of 2,100,384. Tamarack Valley Energy has a 1 year low of C$3.10 and a 1 year high of C$5.53. The firm has a market capitalization of C$2.88 billion, a price-to-earnings ratio of 13.95 and a beta of 2.49. The stock has a fifty day simple moving average of C$4.85 and a two-hundred day simple moving average of C$4.41. The company has a debt-to-equity ratio of 34.61, a quick ratio of 0.80 and a current ratio of 0.73.

Insider Activity

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