Acumen Capital Forecasts Strong Price Appreciation for Tamarack Valley Energy (TSE:TVE) Stock

Tamarack Valley Energy (TSE:TVE) had its price objective raised by investment analysts at Acumen Capital from C$5.50 to C$6.00 in a research report issued to clients and investors on Friday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Acumen Capital’s price objective would suggest a potential upside of 40.85% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. National Bankshares cut their target price on shares of Tamarack Valley Energy from C$7.25 to C$6.75 in a research note on Friday, September 27th. CIBC raised their price objective on Tamarack Valley Energy from C$5.50 to C$5.75 and gave the company an “outperform” rating in a research report on Friday. Raymond James raised Tamarack Valley Energy to a “hold” rating in a report on Thursday, October 17th. Royal Bank of Canada increased their price target on Tamarack Valley Energy from C$4.50 to C$5.00 and gave the company an “outperform” rating in a research note on Friday. Finally, BMO Capital Markets upgraded Tamarack Valley Energy from a “market perform” rating to an “outperform” rating in a report on Friday, October 4th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Tamarack Valley Energy has an average rating of “Moderate Buy” and a consensus price target of C$5.23.

Tamarack Valley Energy Stock Performance

TSE:TVE opened at C$4.26 on Friday. The stock has a 50-day moving average price of C$3.97 and a 200 day moving average price of C$3.84. The company has a current ratio of 0.90, a quick ratio of 0.80 and a debt-to-equity ratio of 41.72. Tamarack Valley Energy has a 12-month low of C$2.76 and a 12-month high of C$4.35. The stock has a market capitalization of C$2.32 billion, a P/E ratio of 18.52 and a beta of 2.49.

Tamarack Valley Energy (TSE:TVE) last announced its quarterly earnings data on Thursday, August 1st. The company reported C$0.17 earnings per share (EPS) for the quarter. Tamarack Valley Energy had a net margin of 8.66% and a return on equity of 5.94%. The business had revenue of C$382.98 million during the quarter. Equities research analysts forecast that Tamarack Valley Energy will post 0.1386527 EPS for the current fiscal year.

Insider Activity at Tamarack Valley Energy

In other news, Senior Officer Christine Ezinga acquired 13,000 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was bought at an average cost of C$3.99 per share, with a total value of C$51,870.00. In the last 90 days, insiders have purchased 28,173 shares of company stock worth $107,945. Company insiders own 1.32% of the company’s stock.

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.