Tamarack Valley Energy (TSE:TVE) Price Target Raised to C$6.00

Key Points

• Desjardins has raised its price target for Tamarack Valley Energy (TSE:TVE) from C$5.50 to C$6.00, suggesting a potential upside of 10.09% from its previous close.
• Royal Bank of Canada upgraded its target price for the company to C$7.00, maintaining an "outperform" rating, while other analysts have also shown varying levels of optimism.
• Tamarack Valley Energy's stock has a current price of C$5.45, which is close to its 52-week high of C$5.53, and it has a market cap of C$2.88 billion.

Tamarack Valley Energy (TSE:TVE - Get Free Report) had its price objective upped by equities researchers at Desjardins from C$5.50 to C$6.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm currently has a "hold" rating on the stock. Desjardins' price target indicates a potential upside of 12.99% from the stock's previous close.

Other equities analysts have also issued reports about the company. ATB Capital boosted their price target on Tamarack Valley Energy from C$6.00 to C$6.25 and gave the company an "outperform" rating in a research note on Thursday. CIBC lowered their price target on Tamarack Valley Energy from C$6.50 to C$5.50 in a research note on Thursday, April 10th. Raymond James Financial boosted their price target on Tamarack Valley Energy from C$6.00 to C$6.50 and gave the company an "outperform" rating in a research note on Thursday. Finally, Royal Bank Of Canada boosted 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 note on Thursday. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, Tamarack Valley Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of C$6.33.

Tamarack Valley Energy Stock Performance

Shares of Tamarack Valley Energy stock traded down C$0.13 during trading on Thursday, reaching 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. The company has a debt-to-equity ratio of 34.61, a quick ratio of 0.80 and a current ratio of 0.73. The business's fifty day moving average price is C$4.89 and its 200-day moving average price is C$4.41. The firm has a market cap of C$2.80 billion, a price-to-earnings ratio of 13.60 and a beta of 2.49. Tamarack Valley Energy has a one year low of C$3.10 and a one year high of C$5.53.

Insider Activity

In related news, Director Rene Amirault bought 85,500 shares of the company's 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. 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.