Raymond James Financial Forecasts Strong Price Appreciation for Tamarack Valley Energy (TSE:TVE) Stock

Key Points

• Raymond James raised Tamarack Valley Energy’s price target to C$16.00 from C$15.00 while maintaining an “outperform” rating, implying approximately 20.39% upside from the reported share price.
• Analyst sentiment is broadly positive: nine analysts rate the stock “Buy,” with a consensus rating of “Buy” and an average price target of C$13.38.
• TVE reported quarterly revenue of C$493.95 million and earnings of C$0.43 per share, while recent insider activity included a director purchasing 78,500 shares and another selling 10,000 shares.

Tamarack Valley Energy (TSE:TVE - Get Free Report) had its target price hoisted by research analysts at Raymond James Financial from C$15.00 to C$16.00 in a report issued on Wednesday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. Raymond James Financial's target price would suggest a potential upside of 20.39% from the company's current price.

TVE has been the topic of a number of other reports. Canadian Imperial Bank of Commerce raised their price target on Tamarack Valley Energy from C$14.25 to C$15.25 and gave the company an "outperformer" rating in a report on Friday, May 29th. Canaccord Genuity Group raised shares of Tamarack Valley Energy from a "hold" rating to a "buy" rating and raised their target price for the company from C$12.00 to C$15.00 in a research note on Friday, May 29th. Roth Capital set a C$15.00 price target on shares of Tamarack Valley Energy and gave the stock a "buy" rating in a research report on Tuesday, May 19th. Royal Bank Of Canada lifted their price target on Tamarack Valley Energy from C$11.00 to C$12.00 and gave the company an "outperform" rating in a research report on Monday, April 13th. Finally, Desjardins set a C$16.00 target price on Tamarack Valley Energy and gave the stock a "buy" rating in a report on Friday, July 17th. Nine analysts have rated the stock with a Buy rating, According to data from MarketBeat, Tamarack Valley Energy currently has a consensus rating of "Buy" and an average price target of C$13.38.

Tamarack Valley Energy Stock Performance

TVE stock traded up C$0.39 on Wednesday, reaching C$13.29. The company's stock had a trading volume of 1,027,426 shares, compared to its average volume of 2,057,426. Tamarack Valley Energy has a 52 week low of C$5.18 and a 52 week high of C$14.03. The company has a market capitalization of C$6.35 billion, a P/E ratio of -73.83 and a beta of 0.33. The firm has a fifty day moving average of C$12.87 and a two-hundred day moving average of C$11.35. The company has a debt-to-equity ratio of 38.89, a current ratio of 0.69 and a quick ratio of 0.80.

Tamarack Valley Energy (TSE:TVE - Get Free Report) last announced its earnings results on Tuesday, July 28th. The company reported C$0.43 earnings per share for the quarter. Tamarack Valley Energy had a negative return on equity of 5.03% and a negative net margin of 6.60%.The firm had revenue of C$493.95 million for the quarter. As a group, analysts predict that Tamarack Valley Energy will post 0.1386527 EPS for the current fiscal year.

Insider Transactions at Tamarack Valley Energy

In related news, Director Robert Spitzer sold 10,000 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of C$13.02, for a total value of C$130,200.00. Following the completion of the transaction, the director owned 424,442 shares in the company, valued at C$5,526,234.84. This trade represents a 2.30% decrease in their position. Also, Director Rene Amirault purchased 78,500 shares of the firm's stock in a transaction that occurred on Wednesday, June 3rd. The stock was bought at an average price of C$13.09 per share, with a total value of C$1,027,565.00. Following the transaction, the director directly owned 454,602 shares in the company, valued at C$5,950,740.18. This trade represents a 20.87% increase in their ownership of the stock. 1.32% of the stock is owned by insiders.

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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