Royal Bank of Canada Raises Tamarack Valley Energy (TSE:TVE) Price Target to C$7.50

Tamarack Valley Energy (TSE:TVE – Get Rating) had its target price hoisted by stock analysts at Royal Bank of Canada from C$7.00 to C$7.50 in a research note issued on Friday, BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 50.30% from the company’s previous close.

Several other analysts have also recently weighed in on the company. Stifel Nicolaus reissued a “buy” rating and set a C$6.50 price objective on shares of Tamarack Valley Energy in a report on Tuesday, February 1st. BMO Capital Markets upped their price target on shares of Tamarack Valley Energy from C$5.25 to C$6.00 in a research report on Friday, March 4th. Raymond James increased their price objective on shares of Tamarack Valley Energy from C$7.00 to C$7.25 and gave the company a “strong-buy” rating in a research report on Friday. CIBC raised their price target on shares of Tamarack Valley Energy from C$7.00 to C$7.50 and gave the stock an “outperform” rating in a research report on Friday. Finally, ATB Capital raised their target price on shares of Tamarack Valley Energy from C$6.50 to C$6.75 in a report on Friday. Two research 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 presently has an average rating of “Buy” and a consensus target price of C$6.10.

TVE traded down C$0.13 during trading on Friday, reaching C$4.99. 3,059,558 shares of the company’s stock were exchanged, compared to its average volume of 3,676,159. Tamarack Valley Energy has a fifty-two week low of C$2.05 and a fifty-two week high of C$6.09. The company has a quick ratio of 0.85, a current ratio of 0.93 and a debt-to-equity ratio of 38.73. The business has a 50 day moving average price of C$5.10 and a 200 day moving average price of C$4.33. The company has a market capitalization of C$2.16 billion and a P/E ratio of 4.62.

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