Tamarack Valley Energy (TSE:TVE) Price Target Raised to C$6.50 at Raymond James Financial

Key Points

• Raymond James Financial has raised its price target for Tamarack Valley Energy from C$6.00 to C$6.50, indicating a potential upside of 19.27% from the current stock price.
• Analysts have varying ratings on Tamarack Valley Energy, with one analyst rating it as a hold and seven issuing buy ratings, leading to a consensus rating of "Moderate Buy".
• Company insiders, including Director Rene Amirault, are actively buying shares, with recent transactions indicating confidence in the company's performance.

Tamarack Valley Energy (TSE:TVE - Get Free Report) had its target price upped by Raymond James Financial from C$6.00 to C$6.50 in a research note issued on Thursday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. Raymond James Financial's price target would suggest a potential upside of 19.27% from the company's current price.

TVE has been the topic of several other reports. ATB Capital lifted their price objective on shares of Tamarack Valley Energy from C$6.00 to C$6.25 and gave the company an "outperform" rating in a research report on Thursday. CIBC reduced their price objective on Tamarack Valley Energy from C$6.50 to C$5.50 in a research report on Thursday, April 10th. Desjardins lowered Tamarack Valley Energy from a "moderate buy" rating to a "hold" rating in a report on Tuesday, June 3rd. Finally, Royal Bank Of Canada lifted their target price on Tamarack Valley Energy from C$6.00 to C$7.00 and gave the company an "outperform" rating in a research note on Thursday. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of C$6.33.

Tamarack Valley Energy Stock Performance

Shares of Tamarack Valley Energy stock traded down C$0.01 on Thursday, reaching C$5.45. 847,204 shares of the company were exchanged, compared to its average volume of 2,100,384. Tamarack Valley Energy has a 1-year low of C$3.10 and a 1-year high of C$5.53. 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 company has a debt-to-equity ratio of 34.61, a quick ratio of 0.80 and a current ratio of 0.73. The company's 50-day moving average is C$4.85 and its two-hundred day moving average is C$4.41.

Insider Buying and Selling

In other Tamarack Valley Energy news, Director Rene Amirault acquired 85,500 shares of Tamarack Valley Energy stock in a transaction dated Monday, May 12th. The stock was bought at an average price of C$4.12 per share, for a total transaction of C$352,260.00. Company 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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