Tamarack Valley Energy (TSE:TVE) Stock Price Expected to Rise, CIBC Analyst Says

Tamarack Valley Energy (TSE:TVE) had its target price upped by investment analysts at CIBC from C$5.50 to C$5.75 in a report issued on Friday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. CIBC’s price target would indicate a potential upside of 35.61% from the stock’s current price.

A number of other research analysts have also recently commented on TVE. Royal Bank of Canada boosted their price objective on Tamarack Valley Energy from C$4.50 to C$5.00 and gave the stock an “outperform” rating in a research note on Friday. BMO Capital Markets raised Tamarack Valley Energy from a “market perform” rating to an “outperform” rating in a research report on Friday, October 4th. National Bankshares dropped their target price on Tamarack Valley Energy from C$7.25 to C$6.75 in a research report on Friday, September 27th. Finally, Raymond James raised Tamarack Valley Energy to a “hold” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$5.23.

Tamarack Valley Energy Trading Up 2.2 %

Tamarack Valley Energy stock traded up C$0.09 during midday trading on Friday, reaching C$4.24. The stock had a trading volume of 5,071,113 shares, compared to its average volume of 2,402,383. Tamarack Valley Energy has a twelve month low of C$2.76 and a twelve month high of C$4.35. The stock has a market capitalization of C$2.31 billion, a PE ratio of 18.48 and a beta of 2.49. The company has a debt-to-equity ratio of 41.72, a quick ratio of 0.80 and a current ratio of 0.90. The stock’s 50-day simple moving average is C$3.97 and its 200 day simple moving average is C$3.84.

Tamarack Valley Energy (TSE:TVE) last issued its earnings results on Thursday, August 1st. The company reported C$0.17 earnings per share for the quarter. The firm had revenue of C$382.98 million for the quarter. Tamarack Valley Energy had a return on equity of 5.94% and a net margin of 8.66%. Analysts expect that Tamarack Valley Energy will post 0.1386527 EPS for the current year.

Insider Activity

In related news, Senior Officer Christine Ezinga bought 13,000 shares of the stock in a transaction dated Friday, August 23rd. The stock was bought at an average cost of C$3.99 per share, with a total value of C$51,870.00. Over the last ninety days, insiders purchased 28,173 shares of company stock valued at $107,945. 1.32% of the stock is currently owned by insiders.

Tamarack Valley Energy Company Profile

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.