Tamarack Valley Energy (TVE) Price Target Raised to C$4.25 at Eight Capital

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Tamarack Valley Energy (TSE:TVE) had its price target hoisted by Eight Capital from C$4.00 to C$4.25 in a research note issued to investors on Friday, BayStreet.CA reports.

A number of other brokerages have also weighed in on TVE. Raymond James restated a strong-buy rating and issued a C$4.75 price objective on shares of Tamarack Valley Energy in a report on Thursday, February 28th. Royal Bank of Canada upgraded shares of Tamarack Valley Energy from a sector perform rating to an outperform rating and raised their price objective for the company from C$3.50 to C$4.00 in a report on Thursday, February 28th. TD Securities raised their price objective on shares of Tamarack Valley Energy from C$4.75 to C$5.00 and gave the company a buy rating in a report on Thursday, February 28th. Canaccord Genuity reduced their price objective on shares of Tamarack Valley Energy from C$5.50 to C$4.00 in a report on Thursday, January 10th. Finally, CIBC reduced their price objective on shares of Tamarack Valley Energy from C$5.50 to C$4.50 in a report on Wednesday, January 16th.

Tamarack Valley Energy stock traded down C$0.17 during mid-day trading on Friday, reaching C$2.45. 2,082,700 shares of the company’s stock were exchanged, compared to its average volume of 1,047,515. The firm has a market cap of $595.12 million and a PE ratio of 15.31. Tamarack Valley Energy has a twelve month low of C$1.81 and a twelve month high of C$5.20. The company has a quick ratio of 0.48, a current ratio of 0.99 and a debt-to-equity ratio of 19.88.

Tamarack Valley Energy (TSE:TVE) last announced its quarterly earnings data on Wednesday, February 27th. The company reported C$0.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of C$0.05 by C$0.03. The firm had revenue of C$73.08 million during the quarter, compared to analyst estimates of C$108.80 million. On average, equities research analysts anticipate that Tamarack Valley Energy will post 0.119999992258065 earnings per share for the current fiscal year.

In other news, Senior Officer Ken Cruikshank sold 160,000 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of C$2.84, for a total value of C$454,240.00. Following the sale, the insider now directly owns 67,555 shares in the company, valued at approximately C$191,788.65.

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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