Tamarack Valley Energy (TSE:TVE) Stock Rating Lowered by Raymond James Financial

Tamarack Valley Energy (TSE:TVE) was downgraded by research analysts at Raymond James Financial from a “moderate buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Marketbeat.com reports.

Several other brokerages have also commented on TVE. CIBC raised their price target on shares of Tamarack Valley Energy from C$8.00 to C$9.00 and gave the company an “outperform” rating in a research note on Thursday, December 4th. ATB Capital raised their price target on Tamarack Valley Energy from C$7.25 to C$9.00 and gave the company an “outperform” rating in a report on Thursday, December 4th. BMO Capital Markets increased their target price on shares of Tamarack Valley Energy from C$9.00 to C$11.00 in a research report on Friday, November 21st. Acumen Capital boosted their price target on shares of Tamarack Valley Energy from C$7.25 to C$7.50 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Finally, Canaccord Genuity Group increased their price objective on shares of Tamarack Valley Energy from C$6.75 to C$8.00 in a report on Thursday, December 4th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$8.92.

Tamarack Valley Energy Stock Performance

Shares of TVE opened at C$7.72 on Tuesday. The stock has a market capitalization of C$3.80 billion, a PE ratio of -45.41 and a beta of 0.95. The business’s fifty day moving average price is C$6.76 and its 200 day moving average price is C$5.75. The company has a debt-to-equity ratio of 34.61, a current ratio of 0.73 and a quick ratio of 0.80. Tamarack Valley Energy has a 12-month low of C$3.10 and a 12-month high of C$8.32.

Tamarack Valley Energy (TSE:TVE) last posted its quarterly earnings results on Friday, October 31st. The company reported C($0.50) earnings per share (EPS) for the quarter. The business had revenue of C$406.32 million during the quarter. Tamarack Valley Energy had a return on equity of 9.89% and a net margin of 13.48%. Equities research analysts forecast that Tamarack Valley Energy will post 0.1386527 EPS for the current year.

Insider Activity

In related news, Director Shannon Joseph purchased 16,129 shares of the company’s stock in a transaction on Thursday, November 6th. The shares were bought at an average price of C$6.32 per share, with a total value of C$101,935.28. Following the completion of the acquisition, the director owned 38,328 shares of the company’s stock, valued at approximately C$242,232.96. This represents a 72.66% increase in their ownership of the stock. Corporate insiders own 1.32% of the company’s stock.

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.