National Bankshares Issues Pessimistic Forecast for Tamarack Valley Energy (TSE:TVE) Stock Price

Tamarack Valley Energy (TSE:TVE) had its price objective decreased by analysts at National Bankshares from C$7.00 to C$6.75 in a report released on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. National Bankshares’ price target suggests a potential upside of 54.11% from the stock’s previous close.

Several other research analysts also recently weighed in on TVE. Raymond James upgraded Tamarack Valley Energy to a “hold” rating in a research note on Thursday, October 17th. BMO Capital Markets upped their price target on shares of Tamarack Valley Energy from C$5.50 to C$6.00 in a research note on Friday, December 13th. Royal Bank of Canada lifted their price objective on shares of Tamarack Valley Energy from C$4.50 to C$5.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. CIBC increased their target price on Tamarack Valley Energy from C$5.50 to C$5.75 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Acumen Capital lifted their price target on Tamarack Valley Energy from C$5.50 to C$6.00 and gave the company a “buy” rating in a research report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$5.48.

Tamarack Valley Energy Stock Up 3.5 %

TVE stock opened at C$4.38 on Thursday. The firm has a market capitalization of C$2.38 billion, a PE ratio of 19.04 and a beta of 2.49. The company has a quick ratio of 0.80, a current ratio of 0.90 and a debt-to-equity ratio of 41.72. Tamarack Valley Energy has a twelve month low of C$2.90 and a twelve month high of C$4.70. The stock’s 50 day moving average is C$4.29 and its 200-day moving average is C$4.00.

Insider Buying and Selling at Tamarack Valley Energy

In other news, Director Marnie Smith sold 9,668 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of C$4.42, for a total transaction of C$42,732.56. Company insiders own 1.32% of the company’s stock.

About Tamarack Valley Energy

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.