CIBC Increases Tamarack Valley Energy (TSE:TVE) Price Target to C$6.25

Tamarack Valley Energy (TSE:TVE) had its target price raised by equities research analysts at CIBC from C$5.50 to C$6.25 in a note issued to investors on Thursday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. CIBC’s price objective would indicate a potential upside of 17.70% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Desjardins boosted their price objective on Tamarack Valley Energy from C$5.50 to C$6.00 and gave the company a “hold” rating in a report on Thursday. Royal Bank Of Canada boosted their price objective on Tamarack Valley Energy from C$6.00 to C$7.00 and gave the company an “outperform” rating in a report on Thursday. ATB Capital boosted their price objective on Tamarack Valley Energy from C$6.00 to C$6.25 and gave the company an “outperform” rating in a report on Thursday. Finally, Raymond James Financial boosted their price objective on Tamarack Valley Energy from C$6.00 to C$6.50 and gave the company an “outperform” rating in a report on Thursday. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$6.33.

Tamarack Valley Energy Price Performance

TSE:TVE opened at C$5.31 on Thursday. Tamarack Valley Energy has a 52 week low of C$3.10 and a 52 week high of C$5.53. The company has a quick ratio of 0.80, a current ratio of 0.73 and a debt-to-equity ratio of 34.61. The company has a market capitalization of C$2.80 billion, a P/E ratio of 13.60 and a beta of 2.49. The stock’s fifty day moving average is C$4.89 and its two-hundred day moving average is C$4.42.

Insider Buying and Selling

In related news, Director Rene Amirault bought 85,500 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was purchased at an average cost of C$4.12 per share, with a total value of C$352,260.00. 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.