Raymond James Raises Tamarack Valley Energy (TSE:TVE) Price Target to C$7.25

Tamarack Valley Energy (TSE:TVEGet Rating) had its price objective lifted by analysts at Raymond James from C$7.00 to C$7.25 in a note issued to investors on Friday, BayStreet.CA reports. The brokerage presently has a “strong-buy” rating on the stock. Raymond James’ target price indicates a potential upside of 45.29% from the company’s current price.

Other analysts have also recently issued research reports about the company. Royal Bank of Canada upped their price objective on Tamarack Valley Energy from C$6.50 to C$7.00 and gave the company an “outperform” rating in a research report on Friday, March 4th. Stifel Nicolaus reaffirmed a “buy” rating and issued a C$6.50 price objective on shares of Tamarack Valley Energy in a research note on Tuesday, February 1st. Acumen Capital upped their price objective on Tamarack Valley Energy from C$5.00 to C$5.50 and gave the stock a “buy” rating in a research note on Friday, January 14th. Canaccord Genuity Group increased their price target on Tamarack Valley Energy from C$4.75 to C$5.00 in a research note on Friday, January 14th. Finally, CIBC increased their price target on Tamarack Valley Energy from C$7.00 to C$7.50 and gave the company an “outperform” rating in a research note on Friday. Two analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Tamarack Valley Energy has an average rating of “Buy” and a consensus target price of C$6.10.

Tamarack Valley Energy stock traded down C$0.13 during trading hours on Friday, reaching C$4.99. The company had a trading volume of 3,059,558 shares, compared to its average volume of 3,676,159. The company has a debt-to-equity ratio of 38.73, a current ratio of 0.93 and a quick ratio of 0.85. The company has a 50-day moving average price of C$5.10 and a 200 day moving average price of C$4.33. The firm has a market cap of C$2.16 billion and a price-to-earnings ratio of 4.62. Tamarack Valley Energy has a 12-month low of C$2.05 and a 12-month high of C$6.09.

In other news, Director Robert Spitzer acquired 32,685 shares of the company’s stock in a transaction on Wednesday, March 9th. The shares were bought at an average cost of C$5.42 per share, with a total value of C$176,992.54. Following the purchase, the director now owns 385,942 shares of the company’s stock, valued at approximately C$2,089,914.52. Also, Senior Officer Brian Leslie Schmidt acquired 50,000 shares of the company’s stock in a transaction on Monday, March 14th. The stock was purchased at an average cost of C$5.00 per share, for a total transaction of C$250,000.00. Following the completion of the purchase, the insider now directly owns 2,206,683 shares in the company, valued at approximately C$11,033,415.

Tamarack Valley Energy Company Profile (Get Rating)

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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