Tamarack Valley Energy (TSE:TVE) Stock Price Expected to Rise, ATB Capital Analyst Says

Tamarack Valley Energy (TSE:TVE) had its price objective upped by research analysts at ATB Capital from C$6.00 to C$6.25 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. ATB Capital’s price target points to a potential upside of 17.70% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Desjardins downgraded shares of Tamarack Valley Energy from a “moderate buy” rating to a “hold” rating in a report on Tuesday, June 3rd. Raymond James Financial boosted their price target on shares of Tamarack Valley Energy from C$5.00 to C$5.50 in a report on Thursday, June 26th. CIBC cut their price target on shares of Tamarack Valley Energy from C$6.50 to C$5.50 in a report on Thursday, April 10th. Finally, Royal Bank Of Canada upped their price objective on shares of Tamarack Valley Energy from C$6.00 to C$7.00 and gave the company an “outperform” rating in a report on Thursday. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$6.33.

Tamarack Valley Energy Price Performance

Shares of TSE:TVE opened at C$5.31 on Thursday. The company’s 50-day moving average is C$4.89 and its 200 day moving average is C$4.42. The company has a debt-to-equity ratio of 34.61, a quick ratio of 0.80 and a current ratio of 0.73. The company has a market capitalization of C$2.80 billion, a P/E ratio of 13.60 and a beta of 2.49. Tamarack Valley Energy has a fifty-two week low of C$3.10 and a fifty-two week high of C$5.53.

Insider Activity

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