Royal Bank Of Canada Forecasts Strong Price Appreciation for Tamarack Valley Energy (TSE:TVE) Stock

Key Points

• Royal Bank of Canada increased the target price for Tamarack Valley Energy from C$6.00 to C$7.00, suggesting a potential upside of 28.44% from the stock's previous close.
• Despite the positive outlook from Royal Bank of Canada, Desjardins downgraded Tamarack Valley Energy from a "moderate buy" to a "hold" rating, reflecting mixed analyst sentiments.
• Recent insider trading activity includes Director Rene Amirault purchasing 85,500 shares at an average price of C$4.12, indicating confidence in the company's future performance.

Tamarack Valley Energy (TSE:TVE - Get Free Report) had its target price lifted by Royal Bank Of Canada from C$6.00 to C$7.00 in a research note issued on Thursday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank Of Canada's price target indicates a potential upside of 28.44% from the company's previous close.

Several other analysts also recently commented on TVE. Desjardins downgraded Tamarack Valley Energy from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, June 3rd. Raymond James Financial increased their price target on Tamarack Valley Energy from C$5.00 to C$5.50 in a report on Thursday, June 26th. Finally, CIBC decreased their price objective on Tamarack Valley Energy from C$6.50 to C$5.50 in a report on Thursday, April 10th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, Tamarack Valley Energy has an average rating of "Moderate Buy" and a consensus price target of C$6.33.

Tamarack Valley Energy Stock Down 0.2%

TSE:TVE traded down C$0.01 during trading hours on Thursday, reaching C$5.45. The company had a trading volume of 847,204 shares, compared to its average volume of 2,100,384. Tamarack Valley Energy has a twelve month low of C$3.10 and a twelve month high of C$5.53. The company has a quick ratio of 0.80, a current ratio of 0.73 and a debt-to-equity ratio of 34.61. The firm has a market cap of C$2.88 billion, a price-to-earnings ratio of 13.95 and a beta of 2.49. The business's 50-day simple moving average is C$4.85 and its two-hundred day simple moving average is C$4.41.

Insider Buying and Selling at Tamarack Valley Energy

In related news, Director Rene Amirault purchased 85,500 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was acquired at an average price of C$4.12 per share, for a total transaction of C$352,260.00. 1.32% of the stock is owned by corporate insiders.

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.

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