Tamarack Valley Energy (TSE:TVE) Given a C$17.00 Price Target at Jefferies Financial Group

Key Points

• Jefferies Financial Group initiated a C$17.00 price target on Tamarack Valley Energy with a “buy” rating, implying 23.64% upside from the reported C$13.75 share price.
• Analyst sentiment is broadly positive: all 10 analysts rate the stock a Buy, with a consensus target price of C$13.70. Several firms recently raised their targets or upgraded the shares.
• Tamarack Valley reported quarterly revenue of C$493.95 million and earnings of C$0.43 per share. Directors also made notable purchases totaling more than C$1.37 million, increasing their ownership stakes.

Tamarack Valley Energy (TSE:TVE - Get Free Report) has been given a C$17.00 target price by Jefferies Financial Group in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. Jefferies Financial Group's target price would suggest a potential upside of 23.64% from the company's current price.

Other analysts have also recently issued reports about the company. Raymond James Financial upped their price objective on Tamarack Valley Energy from C$15.00 to C$16.00 and gave the stock an "outperform" rating in a report on Wednesday, July 29th. Canadian Imperial Bank of Commerce raised their target price on shares of 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 upped their price target for the company from C$12.00 to C$15.00 in a research note on Friday, May 29th. Desjardins set a C$16.00 price objective on shares of Tamarack Valley Energy and gave the company a "buy" rating in a research report on Friday, July 17th. Finally, Roth Capital set a C$15.00 price objective on shares of Tamarack Valley Energy and gave the stock a "buy" rating in a research note on Tuesday, May 19th. Ten equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of C$13.70.

Tamarack Valley Energy Price Performance

Shares of TVE traded up C$0.21 during midday trading on Tuesday, hitting C$13.75. 697,362 shares of the company traded hands, compared to its average volume of 2,046,560. The stock has a market cap of C$6.53 billion, a price-to-earnings ratio of 196.43 and a beta of 0.32. The firm has a 50 day moving average of C$12.89 and a 200-day moving average of C$11.81. The company has a debt-to-equity ratio of 18.26, a quick ratio of 0.80 and a current ratio of 2.30. Tamarack Valley Energy has a 52 week low of C$5.18 and a 52 week high of C$14.03.

Tamarack Valley Energy (TSE:TVE - Get Free Report) last issued its earnings results on Tuesday, July 28th. The company reported C$0.43 earnings per share (EPS) for the quarter. Tamarack Valley Energy had a return on equity of 1.34% and a net margin of 1.50%.The firm had revenue of C$493.95 million for the quarter. On average, analysts forecast that Tamarack Valley Energy will post 0.1386527 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Rene Amirault acquired 78,500 shares of the company's stock in a transaction on Wednesday, June 3rd. The stock was bought at an average cost of C$13.09 per share, with a total value of C$1,027,565.00. Following the completion of the purchase, the director directly owned 454,602 shares of the company's stock, valued at C$5,950,740.18. This represents a 20.87% increase in their ownership of the stock. Also, Director Shannon Joseph bought 27,521 shares of Tamarack Valley Energy stock in a transaction dated Tuesday, June 16th. The stock was purchased at an average cost of C$12.56 per share, for a total transaction of C$345,663.76. Following the purchase, the director owned 66,376 shares of the company's stock, valued at approximately C$833,682.56. This trade represents a 70.83% increase in their position. 1.32% of the stock is owned by corporate 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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