Canaccord Genuity Group Increases Tamarack Valley Energy (TSE:TVE) Price Target to C$4.75

Tamarack Valley Energy (TSE:TVE) had its target price increased by equities research analysts at Canaccord Genuity Group from C$4.25 to C$4.75 in a report issued on Wednesday, BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target points to a potential upside of 25.00% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Stifel Nicolaus increased their price objective on Tamarack Valley Energy from C$4.75 to C$5.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Desjardins increased their price objective on Tamarack Valley Energy from C$4.50 to C$4.75 and gave the stock a “buy” rating in a research report on Friday, March 22nd. National Bankshares increased 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 report on Wednesday, January 10th. Raymond James decreased their price objective on Tamarack Valley Energy from C$5.00 to C$4.00 and set an “outperform” rating for the company in a research report on Friday, January 19th. Finally, ATB Capital decreased their price objective on Tamarack Valley Energy from C$6.00 to C$5.50 and set an “outperform” rating for the company in a research report on Thursday, February 29th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$4.85.

Tamarack Valley Energy Stock Performance

Shares of TSE TVE traded down C$0.05 during trading hours on Wednesday, reaching C$3.80. The stock had a trading volume of 1,854,434 shares, compared to its average volume of 2,274,889. The firm has a market cap of C$2.07 billion, a price-to-earnings ratio of 22.35 and a beta of 2.59. The company has a current ratio of 0.52, a quick ratio of 0.80 and a debt-to-equity ratio of 43.39. Tamarack Valley Energy has a fifty-two week low of C$2.76 and a fifty-two week high of C$4.34. The firm has a 50-day moving average of C$3.59 and a 200-day moving average of C$3.50.

Tamarack Valley Energy (TSE:TVE) last announced its earnings results on Wednesday, February 28th. The company reported C$0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.06 by C$0.04. The firm had revenue of C$418.86 million during the quarter. Tamarack Valley Energy had a return on equity of 4.34% and a net margin of 6.70%. Equities research analysts predict that Tamarack Valley Energy will post 0.2799189 earnings per share for the current year.

Insider Activity at Tamarack Valley Energy

In other news, Senior Officer Brian Leslie Schmidt acquired 8,673 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was purchased at an average cost of C$3.55 per share, with a total value of C$30,789.15. In related news, Senior Officer Brian Leslie Schmidt purchased 8,673 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was bought at an average price of C$3.55 per share, with a total value of C$30,789.15. Also, Senior Officer Scott Shimek purchased 8,500 shares of the company’s stock in a transaction on Wednesday, April 3rd. The shares were bought at an average cost of C$4.08 per share, with a total value of C$34,680.00. Insiders bought 47,718 shares of company stock valued at $178,867 in the last ninety days. Corporate insiders own 1.15% 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.