Tamarack Valley Energy (TSE:TVE) PT Raised to C$8.50 at National Bankshares

Tamarack Valley Energy (TSE:TVEGet Rating) had its price target raised by National Bankshares from C$8.00 to C$8.50 in a note issued to investors on Friday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. National Bankshares’ target price would suggest a potential upside of 70.34% from the company’s previous close.

TVE has been the topic of a number of other reports. BMO Capital Markets upped their price objective on Tamarack Valley Energy from C$5.25 to C$6.00 in a report on Friday, March 4th. CIBC upped their price objective on Tamarack Valley Energy from C$6.00 to C$7.00 in a research report on Thursday, March 3rd. Canaccord Genuity Group increased their target price on Tamarack Valley Energy from C$4.75 to C$5.00 in a report on Friday, January 14th. Acumen Capital increased their target price on Tamarack Valley Energy from C$5.00 to C$5.50 and gave the company a “buy” rating in a report on Friday, January 14th. Finally, Royal Bank of Canada increased their target price on Tamarack Valley Energy from C$6.50 to C$7.00 and gave the company an “outperform” rating in a report on Friday, March 4th. Two investment 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 data from MarketBeat, Tamarack Valley Energy presently has an average rating of “Buy” and an average price target of C$6.10.

Shares of Tamarack Valley Energy stock traded down C$0.13 on Friday, hitting C$4.99. 3,059,558 shares of the company were exchanged, compared to its average volume of 3,676,159. The stock has a market capitalization of C$2.16 billion and a price-to-earnings ratio of 4.65. The company has a 50-day moving average price of C$5.10 and a 200 day moving average price of C$4.33. Tamarack Valley Energy has a 1-year low of C$2.05 and a 1-year 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.

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

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.

Featured Stories

Analyst Recommendations for Tamarack Valley Energy (TSE:TVE)

Receive News & Ratings for Tamarack Valley Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tamarack Valley Energy and related companies with MarketBeat.com's FREE daily email newsletter.