Brokerages Set Tamarack Valley Energy Ltd (TVE) Target Price at $5.81

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Tamarack Valley Energy Ltd (TSE:TVE) has earned a consensus rating of “Buy” from the twelve research firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is C$5.81.

TVE has been the topic of a number of recent analyst reports. BMO Capital Markets upped their price target on Tamarack Valley Energy from C$6.00 to C$6.50 in a research report on Tuesday, October 9th. Desjardins boosted their price objective on shares of Tamarack Valley Energy from C$6.00 to C$6.50 in a report on Friday, August 10th. Royal Bank of Canada boosted their price objective on shares of Tamarack Valley Energy from C$5.00 to C$5.50 and gave the company a “sector perform” rating in a report on Monday, August 13th. National Bank Financial boosted their price objective on shares of Tamarack Valley Energy from C$6.50 to C$6.75 and gave the company an “outperform” rating in a report on Thursday, September 20th. Finally, TD Securities reissued a “buy” rating and set a C$7.00 price objective on shares of Tamarack Valley Energy in a report on Thursday, October 4th.

In other 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.

Shares of TVE stock traded up C$0.06 during trading hours on Monday, reaching C$2.13. 1,150,600 shares of the company’s stock were exchanged, compared to its average volume of 1,025,795. The company has a quick ratio of 0.46, a current ratio of 0.51 and a debt-to-equity ratio of 21.30. Tamarack Valley Energy has a fifty-two week low of C$2.02 and a fifty-two week high of C$5.20.

Tamarack Valley Energy (TSE:TVE) last issued its quarterly earnings results on Wednesday, November 7th. The company reported C$0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of C$0.06. The business had revenue of C$119.30 million for the quarter, compared to analyst estimates of C$111.20 million. As a group, research analysts forecast that Tamarack Valley Energy will post 0.209999992466368 earnings per share for the current year.

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.

See Also: Ex-Dividend

Analyst Recommendations for Tamarack Valley Energy (TSE:TVE)

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