Tamarack Valley Energy (TSE:TVE) PT Lowered to C$3.00 at CIBC

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Tamarack Valley Energy (TSE:TVE) had its price target reduced by equities research analysts at CIBC from C$3.50 to C$3.00 in a research report issued to clients and investors on Tuesday, BayStreet.CA reports. CIBC’s price objective points to a potential upside of 73.41% from the stock’s current price.

TVE has been the topic of a number of other research reports. GMP Securities decreased their price objective on shares of Tamarack Valley Energy from C$4.50 to C$4.25 in a report on Friday, June 28th. Royal Bank of Canada reissued a “sector perform” rating and set a C$2.50 price objective on shares of Tamarack Valley Energy in a report on Thursday, August 15th. Canaccord Genuity decreased their price objective on shares of Tamarack Valley Energy from C$4.00 to C$3.50 in a report on Tuesday, July 9th. Laurentian decreased their price objective on shares of Tamarack Valley Energy from C$5.25 to C$4.75 in a report on Wednesday, October 9th. Finally, BMO Capital Markets decreased their price objective on shares of Tamarack Valley Energy from C$3.25 to C$3.00 in a report on Friday, August 9th.

TVE stock traded up C$0.01 during trading on Tuesday, reaching C$1.73. 112,282 shares of the company were exchanged, compared to its average volume of 748,230. The company has a market cap of $387.84 million and a P/E ratio of 9.61. Tamarack Valley Energy has a 52-week low of C$1.66 and a 52-week high of C$4.29. The stock’s 50 day moving average price is C$1.98 and its 200 day moving average price is C$2.19. The company has a debt-to-equity ratio of 24.24, a quick ratio of 0.65 and a current ratio of 0.74.

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

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.

Further Reading: The four types of profit margin

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