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

Tamarack Valley Energy (TSE:TVE) had its price target raised by equities research analysts at Desjardins from C$5.50 to C$6.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm currently has a “hold” rating on the stock. Desjardins’ price objective points to a potential upside of 12.99% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on TVE. Royal Bank Of Canada upped their price objective on Tamarack Valley Energy from C$6.00 to C$7.00 and gave the stock an “outperform” rating in a research note on Thursday. CIBC decreased their price objective on Tamarack Valley Energy from C$6.50 to C$5.50 in a research note on Thursday, April 10th. Raymond James Financial upped their price objective on Tamarack Valley Energy from C$6.00 to C$6.50 and gave the stock an “outperform” rating in a research note on Thursday. Finally, ATB Capital upped their price objective on Tamarack Valley Energy from C$6.00 to C$6.25 and gave the stock an “outperform” rating in a research note on Thursday. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Tamarack Valley Energy has an average rating of “Moderate Buy” and a consensus price target of C$6.33.

Tamarack Valley Energy Price Performance

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

Insider Buying and Selling

In other Tamarack Valley Energy news, Director Rene Amirault purchased 85,500 shares of the firm’s stock in a transaction on Monday, May 12th. The stock was bought at an average cost of C$4.12 per share, for a total transaction of C$352,260.00. 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.