Tamarack Valley Energy (TSE:TVE) Price Target Raised to C$6.25 at CIBC

Key Points

• Analysts at CIBC raised the price target for Tamarack Valley Energy from C$5.50 to C$6.25, indicating a potential upside of 14.68% from its previous close.
• Royal Bank of Canada also increased its target price for the stock to C$7.00, while overall consensus ratings show a "Moderate Buy" with an average target of C$6.33.
• Insider buying was noted as Director Rene Amirault purchased 85,500 shares at an average price of C$4.12 per share.

Tamarack Valley Energy (TSE:TVE - Get Free Report) had its target price boosted by analysts at CIBC from C$5.50 to C$6.25 in a report issued on Thursday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. CIBC's price objective would suggest a potential upside of 14.68% from the company's previous close.

Several other equities analysts also recently weighed in on TVE. ATB Capital raised their target price on Tamarack Valley Energy from C$6.00 to C$6.25 and gave the company an "outperform" rating in a research report on Thursday. Royal Bank Of Canada lifted their target price on shares of Tamarack Valley Energy from C$6.00 to C$7.00 and gave the stock an "outperform" rating in a research note on Thursday. Desjardins increased their target price on shares of Tamarack Valley Energy from C$5.50 to C$6.00 and gave the company a "hold" rating in a research report on Thursday. Finally, Raymond James Financial raised their price target on shares of Tamarack Valley Energy from C$6.00 to C$6.50 and gave the stock an "outperform" rating in a research note on Thursday. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of C$6.33.

Tamarack Valley Energy Price Performance

Shares of TVE traded down C$0.01 during mid-day trading on Thursday, hitting C$5.45. 847,204 shares of the company were exchanged, compared to its average volume of 2,100,384. The stock has a market cap of C$2.88 billion, a price-to-earnings ratio of 13.95 and a beta of 2.49. Tamarack Valley Energy has a 1-year low of C$3.10 and a 1-year high of C$5.53. The company has a 50 day moving average of C$4.85 and a 200-day moving average of C$4.41. The company has a debt-to-equity ratio of 34.61, a quick ratio of 0.80 and a current ratio of 0.73.

Insiders Place Their Bets

In other news, Director Rene Amirault purchased 85,500 shares of the company's stock in a transaction dated Monday, May 12th. The stock was acquired at an average price of C$4.12 per share, with a total value of C$352,260.00. 1.32% of the stock is 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.

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