Raymond James Financial Forecasts Strong Price Appreciation for Tamarack Valley Energy (TSE:TVE) Stock

Tamarack Valley Energy (TSE:TVE) had its price target upped by analysts at Raymond James Financial from C$6.00 to C$6.50 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Raymond James Financial’s price objective suggests a potential upside of 22.41% from the company’s previous close.

TVE has been the subject of several other reports. Desjardins downgraded Tamarack Valley Energy from a “moderate buy” rating to a “hold” rating in a report on Tuesday, June 3rd. Royal Bank Of Canada lifted their price objective on Tamarack Valley Energy from C$6.00 to C$7.00 and gave the stock an “outperform” rating in a report on Thursday. ATB Capital lifted their price objective on Tamarack Valley Energy from C$6.00 to C$6.25 and gave the stock an “outperform” rating in a report on Thursday. Finally, CIBC reduced their price objective on Tamarack Valley Energy from C$6.50 to C$5.50 in a report on Thursday, April 10th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$6.33.

Tamarack Valley Energy Price Performance

TSE TVE opened at C$5.31 on Thursday. Tamarack Valley Energy has a one year low of C$3.10 and a one year high of C$5.53. The stock has a 50-day moving average of C$4.89 and a 200 day moving average of C$4.42. The company has a market capitalization of C$2.80 billion, a price-to-earnings ratio of 13.60 and a beta of 2.49. The company has a debt-to-equity ratio of 34.61, a quick ratio of 0.80 and a current ratio of 0.73.

Insider Activity

In other news, Director Rene Amirault purchased 85,500 shares of the business’s stock in a transaction on Monday, May 12th. The stock was acquired at an average cost of C$4.12 per share, for a total transaction of C$352,260.00. 1.32% of the stock is currently owned by corporate 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.