Tamarack Valley Energy (TSE:TVE) Price Target Increased to C$3.50 by Analysts at Royal Bank of Canada


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Tamarack Valley Energy (TSE:TVE) had its target price lifted by Royal Bank of Canada from C$3.25 to C$3.50 in a research note issued to investors on Monday morning, Price Targets.com reports. The firm currently has an outperform rating on the stock.

Several other analysts have also issued reports on TVE. CIBC increased their price target on shares of Tamarack Valley Energy from C$2.50 to C$2.75 and gave the stock a strong-buy rating in a research report on Friday, March 26th. Canaccord Genuity lowered shares of Tamarack Valley Energy from a speculative buy rating to a hold rating and increased their price target for the stock from C$1.75 to C$2.50 in a research report on Wednesday, March 31st. National Bank Financial increased their price objective on shares of Tamarack Valley Energy from C$2.25 to C$3.00 and gave the company an outperform rating in a research note on Friday, February 19th. BMO Capital Markets increased their price objective on shares of Tamarack Valley Energy from C$2.25 to C$2.75 and gave the company a strong-buy rating in a research note on Friday, March 26th. Finally, ATB Capital increased their price objective on shares of Tamarack Valley Energy from C$3.00 to C$3.25 and gave the company a na rating in a research note on Tuesday, April 13th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and three have given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of C$3.18.

Shares of TSE:TVE opened at C$2.65 on Monday. The company has a quick ratio of 0.52, a current ratio of 0.56 and a debt-to-equity ratio of 43.69. The firm has a market cap of C$799.62 million and a PE ratio of -1.89. The company’s 50 day moving average price is C$2.31 and its two-hundred day moving average price is C$1.62. Tamarack Valley Energy has a 12-month low of C$0.68 and a 12-month high of C$2.75.

Tamarack Valley Energy (TSE:TVE) last posted its quarterly earnings results on Monday, March 1st. The company reported C($0.02) earnings per share (EPS) for the quarter. The company had revenue of C$64.87 million for the quarter, compared to analyst estimates of C$62.10 million. On average, research analysts expect that Tamarack Valley Energy will post 0.29 EPS for the current year.

In related news, Director Floyd Ray Price sold 11,395 shares of Tamarack Valley Energy stock in a transaction on Thursday, April 22nd. The shares were sold at an average price of C$2.22, for a total transaction of C$25,296.90. Following the completion of the transaction, the director now owns 157,236 shares of the company’s stock, valued at C$349,063.92.

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.

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Analyst Recommendations for Tamarack Valley Energy (TSE:TVE)

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