Raymond James Financial Issues Positive Forecast for Tamarack Valley Energy (TSE:TVE) Stock Price

Tamarack Valley Energy (TSE:TVE) had its price target lifted by analysts at Raymond James Financial from C$15.00 to C$16.00 in a research note issued on Wednesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Raymond James Financial’s price objective would indicate a potential upside of 20.39% from the company’s previous close.

Other analysts have also issued reports about the stock. Canaccord Genuity Group raised shares of Tamarack Valley Energy from a “hold” rating to a “buy” rating and increased their price target for the stock from C$12.00 to C$15.00 in a research report on Friday, May 29th. Royal Bank Of Canada upped their price target on shares of Tamarack Valley Energy from C$11.00 to C$12.00 and gave the stock an “outperform” rating in a research note on Monday, April 13th. Canadian Imperial Bank of Commerce increased their price objective on Tamarack Valley Energy from C$14.25 to C$15.25 and gave the stock an “outperformer” rating in a report on Friday, May 29th. Desjardins set a C$16.00 price objective on Tamarack Valley Energy and gave the company a “buy” rating in a research report on Friday, July 17th. Finally, Roth Capital set a C$15.00 target price on Tamarack Valley Energy and gave the company a “buy” rating in a research note on Tuesday, May 19th. Nine research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of C$13.38.

Tamarack Valley Energy Stock Up 3.0%

Shares of TVE stock traded up C$0.39 on Wednesday, reaching C$13.29. 1,027,426 shares of the company’s stock traded hands, compared to its average volume of 2,057,426. The company has a market capitalization of C$6.35 billion, a P/E ratio of -73.83 and a beta of 0.33. Tamarack Valley Energy has a 12-month low of C$5.18 and a 12-month high of C$14.03. The company has a debt-to-equity ratio of 38.89, a quick ratio of 0.80 and a current ratio of 0.69. The business’s 50 day moving average price is C$12.87 and its two-hundred day moving average price is C$11.35.

Tamarack Valley Energy (TSE:TVE) last announced its quarterly earnings data on Tuesday, July 28th. The company reported C$0.43 earnings per share (EPS) for the quarter. Tamarack Valley Energy had a negative return on equity of 5.03% and a negative net margin of 6.60%.The firm had revenue of C$493.95 million during the quarter. On average, equities analysts forecast that Tamarack Valley Energy will post 0.1386527 earnings per share for the current year.

Insider Buying and Selling at Tamarack Valley Energy

In other news, Director Shannon Joseph bought 27,521 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The shares were purchased at an average price of C$12.56 per share, for a total transaction of C$345,663.76. Following the acquisition, the director directly owned 66,376 shares of the company’s stock, valued at C$833,682.56. The trade was a 70.83% increase in their position. Also, Director Rene Amirault bought 78,500 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were purchased at an average cost of C$13.09 per share, with a total value of C$1,027,565.00. Following the transaction, the director owned 454,602 shares in the company, valued at approximately C$5,950,740.18. The trade was a 20.87% increase in their ownership of the stock. Corporate insiders own 1.32% 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.