Tamarack Valley Energy (TSE:TVE) Price Target Raised to C$10.50

Tamarack Valley Energy (TSE:TVE) had its target price lifted by equities researchers at Acumen Capital from C$7.50 to C$10.50 in a research report issued on Thursday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Acumen Capital’s target price indicates a potential upside of 8.58% from the stock’s current price.

Other analysts have also issued research reports about the stock. Canaccord Genuity Group lifted their target price on shares of Tamarack Valley Energy from C$6.75 to C$8.00 in a research report on Thursday, December 4th. Canadian Imperial Bank of Commerce raised their price target 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. ATB Cormark Capital Markets lifted their price objective on Tamarack Valley Energy from C$9.50 to C$11.50 and gave the stock an “outperform” rating in a report on Thursday. Desjardins increased their target price on Tamarack Valley Energy from C$10.00 to C$10.50 and gave the company a “buy” rating in a report on Thursday. Finally, Raymond James Financial downgraded Tamarack Valley Energy from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Tamarack Valley Energy has a consensus rating of “Moderate Buy” and an average price target of C$10.11.

Tamarack Valley Energy Price Performance

Shares of Tamarack Valley Energy stock traded up C$0.14 on Thursday, hitting C$9.67. The company’s stock had a trading volume of 1,024,740 shares, compared to its average volume of 1,771,631. The company has a debt-to-equity ratio of 34.61, a quick ratio of 0.80 and a current ratio of 0.73. Tamarack Valley Energy has a 1 year low of C$3.10 and a 1 year high of C$10.05. The firm has a fifty day moving average price of C$8.71 and a 200-day moving average price of C$7.18. The company has a market capitalization of C$4.71 billion, a price-to-earnings ratio of -56.88 and a beta of 0.87.

Tamarack Valley Energy (TSE:TVE) last issued its quarterly earnings results on Wednesday, February 25th. The company reported C$0.10 earnings per share (EPS) for the quarter. The company had revenue of C$304.60 million for the quarter. Tamarack Valley Energy had a return on equity of 9.89% and a net margin of 13.48%. As a group, sell-side analysts anticipate that Tamarack Valley Energy will post 0.1386527 earnings per share for the current fiscal year.

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.