Raymond James Reaffirms Strong-Buy Rating for Tamarack Valley Energy (TSE:TVE)

Tamarack Valley Energy (TSE:TVE)‘s stock had its “strong-buy” rating restated by research analysts at Raymond James in a note issued to investors on Friday, Price Targets.com reports. They presently have a C$5.75 target price on the stock. Raymond James’ price objective suggests a potential upside of 22.34% from the stock’s previous close.

A number of other brokerages have also recently commented on TVE. Canaccord Genuity Group lifted their price objective on Tamarack Valley Energy from C$4.75 to C$5.00 in a research note on Friday. National Bankshares lifted their target price on Tamarack Valley Energy from C$5.00 to C$5.50 and gave the stock an “outperform” rating in a report on Thursday, December 16th. BMO Capital Markets lifted their target price on Tamarack Valley Energy from C$3.75 to C$4.00 in a report on Wednesday, October 20th. ATB Capital lifted their target price on Tamarack Valley Energy from C$4.75 to C$5.25 and gave the stock a “na” rating in a report on Thursday, December 16th. Finally, National Bank Financial lifted their target price on Tamarack Valley Energy to C$5.50 and gave the stock an “outperform” rating in a report on Thursday, December 16th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of C$5.02.

Shares of Tamarack Valley Energy stock traded up C$0.10 during trading on Friday, reaching C$4.70. 3,037,615 shares of the company were exchanged, compared to its average volume of 4,173,697. The company has a quick ratio of 0.36, a current ratio of 0.38 and a debt-to-equity ratio of 47.43. Tamarack Valley Energy has a twelve month low of C$1.28 and a twelve month high of C$4.72. The business has a 50-day moving average price of C$3.74 and a 200-day moving average price of C$3.10. The firm has a market capitalization of C$1.91 billion and a price-to-earnings ratio of 6.30.

Tamarack Valley Energy (TSE:TVE) last announced its quarterly earnings data on Wednesday, October 27th. The company reported C$0.05 EPS for the quarter, missing analysts’ consensus estimates of C$0.08 by C($0.03). The company had revenue of C$211.53 million during the quarter. On average, equities research analysts forecast that Tamarack Valley Energy will post 0.47 EPS for the current fiscal year.

In related news, Senior Officer Brian Leslie Schmidt sold 66,562 shares of Tamarack Valley Energy stock in a transaction dated Wednesday, January 5th. The stock was sold at an average price of C$4.08, for a total value of C$271,572.96. Following the sale, the insider now owns 2,152,848 shares of the company’s stock, valued at C$8,783,619.84. Also, Senior Officer Martin Malek bought 55,647 shares of the stock in a transaction that occurred on Wednesday, December 22nd. The stock was bought at an average cost of C$3.59 per share, for a total transaction of C$199,772.73. Following the transaction, the insider now owns 521,571 shares of the company’s stock, valued at approximately C$1,872,439.89. Over the last 90 days, insiders bought 60,383 shares of company stock worth $217,618.

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.

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Analyst Recommendations for Tamarack Valley Energy (TSE:TVE)

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