Tamarack Valley Energy (TSE:TVE) Price Target Raised to C$5.50

Tamarack Valley Energy (TSE:TVE - Get Free Report) had its price objective hoisted by analysts at Raymond James Financial from C$5.00 to C$5.50 in a research note issued on Thursday,BayStreet.CA reports. Raymond James Financial's target price indicates a potential upside of 12.70% from the company's current price.

TVE has been the topic of several other reports. Desjardins downgraded shares of Tamarack Valley Energy from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, June 3rd. CIBC decreased their price objective on shares of Tamarack Valley Energy from C$6.50 to C$5.50 in a research report on Thursday, April 10th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, Tamarack Valley Energy currently has an average rating of "Moderate Buy" and a consensus price target of C$5.78.

Tamarack Valley Energy Price Performance

Shares of TVE stock traded down C$0.01 on Thursday, hitting C$4.88. 3,802,924 shares of the stock traded hands, compared to its average volume of 2,174,024. The firm has a market cap of C$2.58 billion, a price-to-earnings ratio of 12.49 and a beta of 2.49. Tamarack Valley Energy has a 52 week low of C$3.10 and a 52 week high of C$5.12. The firm has a 50 day simple moving average of C$4.33 and a two-hundred day simple moving average of C$4.34. The company has a debt-to-equity ratio of 34.61, a current ratio of 0.73 and a quick ratio of 0.80.

Insider Activity

In other Tamarack Valley Energy news, Director Robert Spitzer bought 31,985 shares of the firm's stock in a transaction dated Thursday, April 3rd. The shares were purchased at an average cost of C$4.19 per share, for a total transaction of C$134,017.15. Also, Director Rene Amirault purchased 85,500 shares of the stock in a transaction that occurred on 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. In the last ninety days, insiders bought 224,150 shares of company stock worth $867,309. 1.32% of the stock is currently 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.