Tamarack Valley Energy (TVE) Price Target Cut to C$5.50

Tamarack Valley Energy (TSE:TVE) had its target price decreased by equities researchers at CIBC from C$6.50 to C$5.50 in a report released on Thursday. CIBC’s target price would suggest a potential upside of 148.87% from the company’s previous close.

A number of other research firms have also recently commented on TVE. National Bank Financial lifted 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 report on Friday, August 10th. BMO Capital Markets lifted their price target on shares of Tamarack Valley Energy from C$5.00 to C$6.00 in a report on Friday, August 10th. Royal Bank of Canada lifted their price target on shares of Tamarack Valley Energy from C$5.00 to C$5.50 and gave the stock a “sector perform” rating in a report on Monday, August 13th. Cormark lifted their price target on shares of Tamarack Valley Energy from C$5.75 to C$6.00 in a report on Tuesday, October 9th. Finally, Raymond James lifted their price target on shares of Tamarack Valley Energy from C$5.75 to C$6.00 and gave the stock an “outperform” rating in a report on Friday, August 10th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of C$5.81.

TSE:TVE opened at C$2.21 on Thursday. The company has a debt-to-equity ratio of 21.30, a current ratio of 0.51 and a quick ratio of 0.46. Tamarack Valley Energy has a 12 month low of C$2.16 and a 12 month high of C$5.20.

Tamarack Valley Energy (TSE:TVE) last posted its quarterly earnings results on Wednesday, November 7th. The company reported C$0.06 EPS for the quarter, hitting analysts’ consensus estimates of C$0.06. The company had revenue of C$119.30 million during the quarter, compared to the consensus estimate of C$111.20 million. On average, research analysts predict that Tamarack Valley Energy will post 0.25 earnings per share for the current fiscal year.

In other Tamarack Valley Energy news, insider David Keith Christensen sold 25,000 shares of the business’s stock in a transaction on Wednesday, October 3rd. The shares were sold at an average price of C$5.15, for a total transaction of C$128,750.00. Also, Director Jeff Boyce sold 90,000 shares of the business’s stock in a transaction on Thursday, October 4th. The shares were sold at an average price of C$5.05, for a total transaction of C$454,500.00.

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.

Read More: What is a capital gain?

Analyst Recommendations for Tamarack Valley Energy (TSE:TVE)

Receive News & Ratings for Tamarack Valley Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tamarack Valley Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply