Canaccord Genuity Group Increases Tamarack Valley Energy (TSE:TVE) Price Target to C$4.75

Tamarack Valley Energy (TSE:TVE) had its target price increased by equities research analysts at Canaccord Genuity Group from C$4.25 to C$4.75 in a report released on Wednesday, BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 25.00% from the company’s previous close.

Several other brokerages also recently issued reports on TVE. CIBC cut their target price on shares of Tamarack Valley Energy from C$5.25 to C$4.50 and set an “outperform” rating on the stock in a research note on Tuesday, January 16th. ATB Capital lowered their price target on shares of Tamarack Valley Energy from C$6.00 to C$5.50 and set an “outperform” rating on the stock in a report on Thursday, February 29th. National Bankshares boosted their price target on shares of Tamarack Valley Energy from C$6.00 to C$6.50 and gave the company an “outperform” rating in a report on Wednesday, January 10th. BMO Capital Markets set a C$4.00 price target on shares of Tamarack Valley Energy and gave the company a “market perform” rating in a report on Thursday, March 21st. Finally, Royal Bank of Canada boosted their price target on shares of Tamarack Valley Energy from C$4.00 to C$4.25 and gave the company an “outperform” rating in a report on Thursday, February 29th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Tamarack Valley Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of C$4.85.

Tamarack Valley Energy Price Performance

Shares of TSE TVE traded down C$0.05 during trading on Wednesday, hitting C$3.80. The company had a trading volume of 1,854,434 shares, compared to its average volume of 2,274,889. The business’s 50-day moving average is C$3.59 and its 200 day moving average is C$3.50. The company has a debt-to-equity ratio of 43.39, a quick ratio of 0.80 and a current ratio of 0.52. Tamarack Valley Energy has a 52 week low of C$2.76 and a 52 week high of C$4.34. The company has a market cap of C$2.07 billion, a P/E ratio of 22.35 and a beta of 2.59.

Tamarack Valley Energy (TSE:TVE) last announced its earnings results on Wednesday, February 28th. The company reported C$0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.06 by C$0.04. Tamarack Valley Energy had a net margin of 6.70% and a return on equity of 4.34%. The company had revenue of C$418.86 million for the quarter. Equities research analysts predict that Tamarack Valley Energy will post 0.2799189 earnings per share for the current fiscal year.

Insider Buying and Selling at Tamarack Valley Energy

In other news, Senior Officer Scott Shimek purchased 8,500 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The stock was bought at an average cost of C$4.08 per share, for a total transaction of C$34,680.00. In related news, Senior Officer Christine Ezinga acquired 21,150 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was acquired at an average price of C$3.74 per share, with a total value of C$79,012.17. Also, Senior Officer Scott Shimek acquired 8,500 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The shares were purchased at an average cost of C$4.08 per share, with a total value of C$34,680.00. Insiders bought 47,718 shares of company stock worth $178,867 over the last ninety days. Company insiders own 1.15% of the company’s stock.

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.