Tamarack Valley Energy (TSE:TVE) PT Set at C$17.00 by Jefferies Financial Group

Tamarack Valley Energy (TSE:TVE) has been assigned a C$17.00 price objective by stock analysts at Jefferies Financial Group in a research note issued on Tuesday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s price target would indicate a potential upside of 23.64% from the company’s previous close.

A number of other equities analysts also recently issued reports on TVE. Canaccord Genuity Group raised 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. Raymond James Financial upped their price target on shares of Tamarack Valley Energy from C$15.00 to C$16.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Roth Capital set a C$15.00 price objective on shares of Tamarack Valley Energy and gave the stock a “buy” rating in a research note on Tuesday, May 19th. Desjardins set a C$16.00 target price on Tamarack Valley Energy and gave the stock a “buy” rating in a report on Friday, July 17th. Finally, Canadian Imperial Bank of Commerce lifted their price target on Tamarack Valley Energy from C$14.25 to C$15.25 and gave the company an “outperformer” rating in a report on Friday, May 29th. Ten research analysts have rated the stock with a Buy rating, According to MarketBeat, Tamarack Valley Energy has an average rating of “Buy” and an average target price of C$13.70.

Tamarack Valley Energy Trading Up 1.6%

TVE traded up C$0.21 on Tuesday, reaching C$13.75. 697,362 shares of the company traded hands, compared to its average volume of 2,046,560. The company has a market cap of C$6.53 billion, a P/E ratio of 196.43 and a beta of 0.32. The company has a quick ratio of 0.80, a current ratio of 2.30 and a debt-to-equity ratio of 18.26. Tamarack Valley Energy has a one year low of C$5.18 and a one year high of C$14.03. The firm has a fifty day simple moving average of C$12.89 and a two-hundred day simple moving average of C$11.81.

Tamarack Valley Energy (TSE:TVE) last issued its earnings results on Tuesday, July 28th. The company reported C$0.43 EPS for the quarter. The business had revenue of C$493.95 million for the quarter. Tamarack Valley Energy had a net margin of 1.50% and a return on equity of 1.34%. As a group, equities research analysts expect that Tamarack Valley Energy will post 0.1386527 earnings per share for the current year.

Insider Activity at Tamarack Valley Energy

In related news, Director Rene Amirault acquired 78,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was 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 directly owned 454,602 shares of the company’s stock, valued at C$5,950,740.18. This trade represents a 20.87% increase in their position. Also, Director Robert Spitzer sold 10,000 shares of Tamarack Valley Energy stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of C$13.02, for a total transaction of C$130,200.00. Following the completion of the sale, the director owned 424,442 shares of the company’s stock, valued at C$5,526,234.84. This trade represents a 2.30% decrease in their ownership of the stock. 1.32% of the stock is currently owned by corporate insiders.

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.