National Bankshares Forecasts Strong Price Appreciation for Tamarack Valley Energy (TSE:TVE) Stock

Tamarack Valley Energy (TSE:TVE) had its target price boosted by analysts at National Bankshares from C$6.75 to C$7.00 in a report released on Friday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. National Bankshares’ price target points to a potential upside of 64.32% from the company’s previous close.

Several other analysts have also recently commented on TVE. Raymond James upgraded Tamarack Valley Energy to a “hold” rating in a research report on Thursday, October 17th. Acumen Capital upped their target price on shares of Tamarack Valley Energy from C$5.50 to C$6.00 and gave the stock a “buy” rating in a report on Friday. BMO Capital Markets raised shares of Tamarack Valley Energy from a “market perform” rating to an “outperform” rating in a research note on Friday, October 4th. Royal Bank of Canada boosted their price target on shares of Tamarack Valley Energy from C$4.50 to C$5.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, CIBC increased their price objective on shares of Tamarack Valley Energy from C$5.50 to C$5.75 and gave the company an “outperform” rating in a report on Friday. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$5.23.

Tamarack Valley Energy Stock Up 2.7 %

TVE stock opened at C$4.26 on Friday. Tamarack Valley Energy has a 52 week low of C$2.76 and a 52 week high of C$4.35. The company has a quick ratio of 0.80, a current ratio of 0.90 and a debt-to-equity ratio of 41.72. The firm has a 50-day simple moving average of C$3.97 and a 200-day simple moving average of C$3.84. 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 posted its quarterly earnings data on Thursday, August 1st. The company reported C$0.17 EPS for the quarter. The company had revenue of C$382.98 million during the quarter. Tamarack Valley Energy had a return on equity of 5.94% and a net margin of 8.66%. Equities analysts forecast that Tamarack Valley Energy will post 0.1386527 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tamarack Valley Energy news, Senior Officer Christine Ezinga purchased 13,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were acquired at an average price of C$3.99 per share, with a total value of C$51,870.00. Insiders acquired a total of 28,173 shares of company stock valued at $107,945 over the last quarter. 1.32% of the stock is owned by insiders.

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.