Royal Bank of Canada Increases Tamarack Valley Energy (TSE:TVE) Price Target to C$5.00

Tamarack Valley Energy (TSE:TVE) had its price objective hoisted by Royal Bank of Canada from C$4.50 to C$5.00 in a research report issued on Friday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 17.92% from the company’s previous close.

A number of other research analysts have also recently commented on TVE. CIBC boosted their price target on Tamarack Valley Energy from C$5.25 to C$5.50 in a report on Monday, July 15th. BMO Capital Markets raised Tamarack Valley Energy from a “market perform” rating to an “outperform” rating in a report on Friday, October 4th. Raymond James raised Tamarack Valley Energy to a “hold” rating in a report on Thursday, October 17th. Finally, National Bankshares lowered their price target on Tamarack Valley Energy from C$7.25 to C$6.75 in a report on Friday, September 27th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$5.23.

Tamarack Valley Energy Stock Performance

Shares of TSE:TVE traded up C$0.09 during mid-day trading on Friday, reaching C$4.24. 5,071,113 shares of the company traded hands, compared to its average volume of 2,402,383. The company’s 50 day moving average price is C$3.97 and its 200-day moving average price is C$3.84. The firm has a market cap of C$2.31 billion, a PE ratio of 18.48 and a beta of 2.49. The company has a debt-to-equity ratio of 41.72, a current ratio of 0.90 and a quick ratio of 0.80. Tamarack Valley Energy has a 52 week low of C$2.76 and a 52 week high of C$4.35.

Tamarack Valley Energy (TSE:TVE) last posted its quarterly earnings results on Thursday, August 1st. The company reported C$0.17 EPS for the quarter. Tamarack Valley Energy had a return on equity of 5.94% and a net margin of 8.66%. The company had revenue of C$382.98 million for the quarter. On average, equities analysts expect that Tamarack Valley Energy will post 0.1386527 EPS for the current fiscal year.

Insider Buying and Selling at Tamarack Valley Energy

In other Tamarack Valley Energy news, Senior Officer Christine Ezinga acquired 13,000 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were bought at an average price of C$3.99 per share, with a total value of C$51,870.00. Insiders have acquired 28,173 shares of company stock valued at $107,945 in the last quarter. 1.32% of the stock is owned by insiders.

About Tamarack Valley Energy

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.