Tamarack Valley Energy (TSE:TVE) PT Set at C$16.00 by Desjardins

Tamarack Valley Energy (TSE:TVE) received a C$16.00 price objective from equities researchers at Desjardins in a research note issued on Friday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ price target indicates a potential upside of 21.12% from the stock’s current price.

A number of other research analysts also recently issued reports on the stock. Canaccord Genuity Group upgraded shares of Tamarack Valley Energy from a “hold” rating to a “buy” rating and upped their target price for the company from C$12.00 to C$15.00 in a research report on Friday, May 29th. Canadian Imperial Bank of Commerce raised their target price on shares of Tamarack Valley Energy from C$14.25 to C$15.25 and gave the company an “outperformer” rating in a research note on Friday, May 29th. Raymond James Financial upgraded shares of Tamarack Valley Energy from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from C$12.00 to C$15.00 in a research report on Friday, May 29th. Roth Capital set a C$15.00 price target on shares of Tamarack Valley Energy and gave the stock a “buy” rating in a research note on Tuesday, May 19th. Finally, Royal Bank Of Canada increased their price objective on shares of Tamarack Valley Energy from C$11.00 to C$12.00 and gave the company an “outperform” rating in a report on Monday, April 13th. Nine investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of C$13.28.

Tamarack Valley Energy Stock Up 2.9%

TSE TVE opened at C$13.21 on Friday. The stock has a fifty day moving average of C$12.83 and a 200-day moving average of C$11.06. The stock has a market capitalization of C$6.32 billion, a P/E ratio of -73.39 and a beta of 0.33. Tamarack Valley Energy has a 52 week low of C$4.98 and a 52 week high of C$14.03. The company has a debt-to-equity ratio of 38.89, a quick ratio of 0.80 and a current ratio of 0.69.

Tamarack Valley Energy (TSE:TVE) last released its earnings results on Wednesday, May 6th. The company reported C$0.20 earnings per share for the quarter. The company had revenue of C$375.55 million during the quarter. Tamarack Valley Energy had a negative return on equity of 5.03% and a negative net margin of 6.60%. On average, equities research analysts forecast that Tamarack Valley Energy will post 0.1386527 EPS for the current year.

Insiders Place Their Bets

In other news, Director Shannon Joseph bought 27,521 shares of the business’s stock in a transaction on Tuesday, June 16th. The shares were purchased at an average price of C$12.56 per share, for a total transaction of C$345,663.76. Following the purchase, the director owned 66,376 shares of the company’s stock, valued at approximately C$833,682.56. The trade was a 70.83% increase in their position. Also, Director Robert Spitzer sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of C$13.02, for a total value of C$130,200.00. Following the transaction, the director directly owned 424,442 shares of the company’s stock, valued at approximately C$5,526,234.84. This trade represents a 2.30% decrease in their position. Corporate 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.