Tamarack Valley Energy (TSE:TVE) Posts Earnings Results

Tamarack Valley Energy (TSE:TVE) posted its quarterly earnings results on Wednesday. The company reported C$0.10 earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of C$304.60 million during the quarter. Tamarack Valley Energy had a return on equity of 9.89% and a net margin of 13.48%.

Tamarack Valley Energy Stock Down 0.2%

Shares of TVE stock traded down C$0.02 during trading hours on Wednesday, reaching C$9.69. The company had a trading volume of 965,581 shares, compared to its average volume of 1,764,845. The business has a fifty day simple moving average of C$8.67 and a 200-day simple moving average of C$7.16. Tamarack Valley Energy has a 12 month low of C$3.10 and a 12 month high of C$10.05. The company has a market cap of C$4.72 billion, a price-to-earnings ratio of -57.00 and a beta of 0.87. The company has a debt-to-equity ratio of 34.61, a current ratio of 0.73 and a quick ratio of 0.80.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. ATB Cormark Capital Markets boosted their price objective on shares of Tamarack Valley Energy from C$7.25 to C$9.00 and gave the company an “outperform” rating in a research report on Thursday, December 4th. Desjardins boosted their price objective on shares of Tamarack Valley Energy from C$8.50 to C$8.75 and gave the stock a “buy” rating in a report on Thursday, December 4th. Canadian Imperial Bank of Commerce increased their target price on shares of Tamarack Valley Energy from C$8.00 to C$9.00 and gave the company an “outperform” rating in a research note on Thursday, December 4th. Canaccord Genuity Group increased their price objective on shares of Tamarack Valley Energy from C$6.75 to C$8.00 in a research note on Thursday, December 4th. Finally, BMO Capital Markets boosted their price objective on shares of Tamarack Valley Energy from C$9.00 to C$11.00 in a research note on Friday, November 21st. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$8.92.

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.