Scotiabank Reiterates C$17.00 Price Target for Tamarack Valley Energy (TSE:TVE)

Tamarack Valley Energy (TSE:TVE) received a C$17.00 price target from stock analysts at Scotiabank in a research report issued on Wednesday, BayStreet reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s target price points to a potential upside of 28.11% from the stock’s current price.

Several other research firms have also recently weighed in on TVE. Jefferies Financial Group set a C$17.00 price objective on shares of Tamarack Valley Energy and gave the stock a “buy” rating in a research report on Tuesday, August 18th. Desjardins upped their price target on shares of Tamarack Valley Energy from C$16.00 to C$16.50 and gave the company a “buy” rating in a research report on Wednesday, September 9th. Canaccord Genuity Group increased their price target on Tamarack Valley Energy from C$15.00 to C$16.00 and gave the stock a “buy” rating in a report on Wednesday, September 9th. Finally, Raymond James Financial lifted their price objective on Tamarack Valley Energy from C$16.00 to C$17.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 9th. Eleven analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of C$14.19.

Tamarack Valley Energy Trading Up 1.8%

Shares of TVE stock traded up C$0.23 on Wednesday, hitting C$13.27. The company had a trading volume of 772,408 shares, compared to its average volume of 2,072,204. Tamarack Valley Energy has a twelve month low of C$5.93 and a twelve month high of C$14.42. The company has a debt-to-equity ratio of 18.26, a quick ratio of 0.80 and a current ratio of 2.30. The firm has a market cap of C$6.28 billion, a P/E ratio of 189.57 and a beta of 0.26. The stock’s 50-day moving average is C$13.36 and its two-hundred day moving average is C$12.63.

Tamarack Valley Energy (TSE:TVE) last posted its quarterly earnings data on Tuesday, July 28th. The company reported C$0.43 EPS for the quarter. Tamarack Valley Energy had a return on equity of 1.34% and a net margin of 1.50%.The company had revenue of C$493.95 million for the quarter. On average, equities research analysts anticipate that Tamarack Valley Energy will post 0.1386527 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Caralyn Patricia Bennett purchased 36,568 shares of the company’s stock in a transaction that occurred on Monday, September 21st. The shares were acquired at an average cost of C$13.26 per share, with a total value of C$484,891.68. Following the purchase, the director owned 169,192 shares in the company, valued at C$2,243,485.92. This represents a 27.57% increase in their ownership of the stock. Also, insider Kevin James Johnston purchased 7,500 shares of the business’s stock in a transaction on Thursday, September 17th. The stock was purchased at an average price of C$13.44 per share, for a total transaction of C$100,800.00. Following the acquisition, the insider owned 104,491 shares of the company’s stock, valued at approximately C$1,404,359.04. This represents a 7.73% increase in their position. Over the last ninety days, insiders have purchased 44,458 shares of company stock worth $590,957. 1.32% of the stock is owned by company insiders.

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.