Tamarack Valley Energy’s (TVE) Sector Perform Rating Reaffirmed at Royal Bank of Canada

Tamarack Valley Energy (TSE:TVE)‘s stock had its “sector perform” rating reiterated by analysts at Royal Bank of Canada in a research report issued to clients and investors on Thursday, BayStreet.CA reports. They presently have a C$2.50 price target on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 43.68% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on the company. Canaccord Genuity cut their price target on Tamarack Valley Energy from C$4.00 to C$3.50 in a report on Tuesday, July 9th. GMP Securities decreased their target price on shares of Tamarack Valley Energy from C$4.50 to C$4.25 in a report on Friday, June 28th. CIBC decreased their target price on shares of Tamarack Valley Energy from C$4.50 to C$3.50 in a report on Thursday, July 18th. Raymond James reissued a “strong-buy” rating and issued a C$3.50 target price on shares of Tamarack Valley Energy in a report on Friday, August 9th. Finally, Eight Capital raised their target price on shares of Tamarack Valley Energy from C$4.00 to C$4.25 in a report on Friday, May 10th.

TVE opened at C$1.74 on Thursday. The business’s 50 day moving average is C$2.01 and its 200-day moving average is C$2.34. The stock has a market cap of $439.70 million and a PE ratio of 13.28. The company has a current ratio of 0.56, a quick ratio of 0.52 and a debt-to-equity ratio of 25.12. Tamarack Valley Energy has a twelve month low of C$1.71 and a twelve month high of C$5.20.

In related news, Senior Officer Ronald Steve Hozjan sold 43,000 shares of Tamarack Valley Energy stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of C$1.96, for a total transaction of C$84,280.00. Following the sale, the insider now directly owns 319,949 shares of the company’s stock, valued at approximately C$627,100.04.

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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