Tamarack Valley Energy Ltd. (OTCMKTS:TNEYF) has been given an average recommendation of “Buy” by the nine analysts that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $3.50.
A number of equities analysts have recently issued reports on TNEYF shares. National Bank Financial started coverage on Tamarack Valley Energy in a research note on Monday, May 3rd. They set an “outperform” rating for the company. Royal Bank of Canada increased their target price on Tamarack Valley Energy from $3.00 to $3.25 and gave the stock an “outperform” rating in a research note on Monday, March 8th. CIBC increased their target price on Tamarack Valley Energy from C$2.75 to C$4.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 2nd. Desjardins raised their price objective on Tamarack Valley Energy from $3.50 to $3.75 and gave the company a “buy” rating in a research note on Wednesday, April 14th. Finally, Stifel Nicolaus raised their price objective on Tamarack Valley Energy from C$4.00 to C$4.50 and gave the company a “buy” rating in a research note on Wednesday, June 2nd.
TNEYF traded up $0.01 on Thursday, hitting $2.21. 10,882 shares of the company traded hands, compared to its average volume of 38,420. The stock’s 50 day moving average is $2.02. Tamarack Valley Energy has a 12-month low of $0.52 and a 12-month high of $2.69.
Tamarack Valley Energy Ltd. acquires, explores, develops, and produces crude oil, natural gas, and natural gas liquids in the Western Canadian sedimentary basin. It primarily holds interests in Alberta Cardium light oil plays in Wilson Creek/Alder Flats/Pembina, and Garrington and Lochend areas in Alberta; Viking light oil resource plays in Redwater in Alberta, as well as in the Veteran, Consort, and Esther area of southeast Alberta and North Hoosier, Milton, and Coleville area of southwest Saskatchewan; Barons and Banff light oil plays located in the Penny area of Southern Alberta; and heavy oil properties.
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