Tamarack Valley Energy (TSE:TVE) Reaches New 52-Week High Following Analyst Upgrade

Tamarack Valley Energy Ltd (TSE:TVE)’s share price reached a new 52-week high during mid-day trading on Friday after National Bank Financial raised their price target on the stock from C$10.00 to C$11.50. National Bank Financial currently has an outperform rating on the stock. Tamarack Valley Energy traded as high as C$10.19 and last traded at C$10.15, with a volume of 920314 shares changing hands. The stock had previously closed at C$9.74.

Several other brokerages have also recently commented on TVE. Canaccord Genuity Group upped their target price on Tamarack Valley Energy from C$8.50 to C$9.00 and gave the company a “hold” rating in a report on Thursday. Canadian Imperial Bank of Commerce boosted their price target on shares of Tamarack Valley Energy from C$8.00 to C$9.00 and gave the stock an “outperform” rating in a research report on Thursday, December 4th. Royal Bank Of Canada increased their price objective on shares of Tamarack Valley Energy from C$8.00 to C$9.00 and gave the stock an “outperform” rating in a research report on Thursday, December 4th. Acumen Capital lifted their target price on shares of Tamarack Valley Energy from C$7.50 to C$10.50 and gave the stock a “buy” rating in a research note on Thursday. Finally, Raymond James Financial cut shares of Tamarack Valley Energy from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$10.11.

More Tamarack Valley Energy News

Here are the key news stories impacting Tamarack Valley Energy this week:

• Positive Sentiment: National Bank Financial raised its price target to C$11.50 and assigned an “outperform” rating, implying roughly an 18% upside versus the C$9.74 reference price. Read More.
• Positive Sentiment: ATB Cormark Capital Markets raised its target to C$11.50 and reiterated an “outperform” view, signaling similar upside potential (~18%). Read More.
• Positive Sentiment: Desjardins increased its target to C$10.50 and rates TVE a “buy,” implying about a 7.8% upside from the C$9.74 reference. Read More.
• Positive Sentiment: Acumen Capital bumped its target sharply to C$10.50 (from C$7.50) and holds a “buy” rating, also implying roughly 7.8% upside versus C$9.74. Read More.
• Negative Sentiment: Canaccord Genuity raised its target to C$9.00 but kept a “hold” rating; that target sits below the C$9.74 reference price and represents ~7.6% downside, tempering the otherwise bullish analyst flow. Read More.

Tamarack Valley Energy Stock Up 4.6%

The firm’s fifty day moving average price is C$8.80 and its two-hundred day moving average price is C$7.23. The stock has a market cap of C$4.96 billion, a price-to-earnings ratio of -59.94 and a beta of 0.87. 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 (TSE:TVE) last issued its earnings results on Wednesday, February 25th. The company reported C$0.10 EPS for the quarter. Tamarack Valley Energy had a return on equity of 9.89% and a net margin of 13.48%.The company had revenue of C$304.60 million during the quarter. Sell-side analysts forecast that Tamarack Valley Energy Ltd will post 0.1386527 earnings per share for the current fiscal year.

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.