Tamarack Valley Energy (TSE:TVE) Upgraded at Desjardins

Key Points

• Desjardins upgraded Tamarack Valley Energy to a “moderate buy” rating, adding to a wave of positive analyst sentiment around the stock.
• Other firms have also turned bullish, with several raising price targets; overall, nine analysts now rate TVE a Buy and the consensus target sits at C$13.28.
• The stock was up 2.9% and opened at C$13.21; recent insider activity was mixed, with one director selling shares and another buying a larger stake.

Tamarack Valley Energy (TSE:TVE - Get Free Report) was upgraded by equities research analysts at Desjardins to a "moderate buy" rating in a report issued on Thursday,Zacks.com reports.

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

Tamarack Valley Energy Stock Up 2.9%

TSE TVE opened at C$13.21 on Thursday. The company has a quick ratio of 0.80, a current ratio of 0.69 and a debt-to-equity ratio of 38.89. Tamarack Valley Energy has a fifty-two week low of C$4.98 and a fifty-two week high of C$14.03. The business has a 50 day moving average price of C$12.83 and a two-hundred day moving average price of C$11.06. The stock has a market cap of C$6.32 billion, a PE ratio of -73.39 and a beta of 0.33.

Tamarack Valley Energy (TSE:TVE - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported C$0.20 earnings per share (EPS) for the quarter. The company had revenue of C$375.55 million for the quarter. Tamarack Valley Energy had a negative net margin of 6.60% and a negative return on equity of 5.03%. As a group, sell-side analysts predict that Tamarack Valley Energy will post 0.1386527 EPS for the current fiscal year.

Insider Transactions at Tamarack Valley Energy

In other news, Director Robert Spitzer sold 10,000 shares of the business's stock in a transaction that occurred 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 sale, the director directly owned 424,442 shares in the company, valued at approximately C$5,526,234.84. The trade was a 2.30% decrease in their position. Also, Director Shannon Joseph purchased 27,521 shares of the company's stock in a transaction that occurred on Tuesday, June 16th. The shares were purchased at an average cost of C$12.56 per share, for a total transaction of C$345,663.76. Following the completion of the transaction, the director owned 66,376 shares in the company, valued at approximately C$833,682.56. This represents a 70.83% 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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