Tamarack Valley Energy (TSE:TVE) Given a C$16.00 Price Target at Desjardins

Key Points

• Desjardins initiated coverage with a C$16.00 price target on Tamarack Valley Energy and kept a buy rating, implying about 21% upside from the current share price.
• The stock rose 2.8% to C$13.20 amid strong analyst sentiment, with nine analysts rating it a Buy and the average target price at C$13.28.
• Recent company and insider activity was mixed: the firm reported C$0.20 EPS on C$375.55 million in revenue last quarter, while one director sold shares and another bought a larger stake.

Tamarack Valley Energy (TSE:TVE - Get Free Report) received a C$16.00 target price from Desjardins in a research note issued on Friday,BayStreet.CA reports. The firm currently has a "buy" rating on the stock. Desjardins' price target would indicate a potential upside of 21.21% from the company's current price.

TVE has been the subject of several other reports. 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 note on Tuesday, May 19th. Canaccord Genuity Group upgraded shares of Tamarack Valley Energy from a "hold" rating to a "buy" rating and lifted their price target for the company from C$12.00 to C$15.00 in a research note on Friday, May 29th. Royal Bank Of Canada raised their price objective on Tamarack Valley Energy from C$11.00 to C$12.00 and gave the company an "outperform" rating in a report on Monday, April 13th. Canadian Imperial Bank of Commerce upped their target price on Tamarack Valley Energy from C$14.25 to C$15.25 and gave the stock an "outperformer" rating in a report on Friday, May 29th. Finally, Raymond James Financial upgraded Tamarack Valley Energy from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from C$12.00 to C$15.00 in a research note on Friday, May 29th. Nine equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average target price of C$13.28.

Tamarack Valley Energy Stock Up 2.8%

Shares of TVE traded up C$0.36 on Friday, hitting C$13.20. The company's stock had a trading volume of 727,869 shares, compared to its average volume of 2,087,381. The firm's fifty day moving average price is C$12.80 and its 200-day moving average price is C$11.05. Tamarack Valley Energy has a fifty-two week low of C$4.98 and a fifty-two week high of C$14.03. The company has a quick ratio of 0.80, a current ratio of 0.69 and a debt-to-equity ratio of 38.89. The firm has a market capitalization of C$6.31 billion, a price-to-earnings ratio of -73.33 and a beta of 0.33.

Tamarack Valley Energy (TSE:TVE - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported C$0.20 earnings per share for the quarter. Tamarack Valley Energy had a negative net margin of 6.60% and a negative return on equity of 5.03%. The firm had revenue of C$375.55 million during the quarter. On average, equities research analysts expect that Tamarack Valley Energy will post 0.1386527 EPS for the current year.

Insider Transactions at Tamarack Valley Energy

In other Tamarack Valley Energy news, Director Robert Spitzer sold 10,000 shares of Tamarack Valley Energy 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 directly owned 424,442 shares of the company's stock, valued at C$5,526,234.84. The trade was a 2.30% decrease in their position. Also, Director Rene Amirault bought 78,500 shares of Tamarack Valley Energy stock in a transaction dated Wednesday, June 3rd. The shares were bought at an average cost of C$13.09 per share, for a total transaction of C$1,027,565.00. Following the completion of the acquisition, the director owned 454,602 shares in the company, valued at C$5,950,740.18. This represents a 20.87% increase in their position. Insiders own 1.32% of the company's stock.

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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