Raymond James Financial Increases Tamarack Valley Energy (TSE:TVE) Price Target to C$5.50

Tamarack Valley Energy (TSE:TVE - Get Free Report) had its target price boosted by equities researchers 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 price objective indicates a potential upside of 12.94% from the company's current price.

A number of other equities research analysts have also recently weighed in on TVE. Desjardins cut Tamarack Valley Energy from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, June 3rd. CIBC reduced their price target on shares of Tamarack Valley Energy from C$6.50 to C$5.50 in a research report on Thursday, April 10th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Tamarack Valley Energy has an average rating of "Moderate Buy" and an average target price of C$5.78.

Tamarack Valley Energy Stock Up 2.5%

Shares of TSE TVE traded up C$0.12 during mid-day trading on Thursday, reaching C$4.87. The company had a trading volume of 1,256,269 shares, compared to its average volume of 2,149,208. The firm has a 50 day simple moving average of C$4.29 and a two-hundred day simple moving average of C$4.34. Tamarack Valley Energy has a 52-week low of C$3.10 and a 52-week high of C$5.12. 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 stock has a market cap of C$2.57 billion, a P/E ratio of 12.47 and a beta of 2.49.

Insider Activity

In other Tamarack Valley Energy news, Senior Officer Steven Buytels acquired 8,065 shares of the company's stock in a transaction that occurred on Friday, April 4th. The shares were purchased at an average price of C$3.66 per share, with a total value of C$29,517.90. Also, Director Robert Spitzer acquired 31,985 shares of the business's stock in a transaction on Thursday, April 3rd. The stock was acquired at an average price of C$4.19 per share, with a total value of C$134,017.15. Insiders have bought a total of 224,150 shares of company stock valued at $867,309 over the last quarter. Corporate 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.