Tamarack Valley Energy (TSE:TVE) Price Target Raised to C$11.50 at ATB Cormark Capital Markets

Tamarack Valley Energy (TSE:TVE) had its price target boosted by analysts at ATB Cormark Capital Markets from C$9.50 to C$11.50 in a report issued on Thursday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ target price points to a potential upside of 18.92% from the company’s previous close.

A number of other analysts also recently weighed in on TVE. Canadian Imperial Bank of Commerce upped their target price on Tamarack Valley Energy from C$8.00 to C$9.00 and gave the company an “outperform” rating in a research report on Thursday, December 4th. BMO Capital Markets upped their price objective on shares of Tamarack Valley Energy from C$9.00 to C$11.00 in a research report on Friday, November 21st. National Bank Financial 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 note on Thursday, December 4th. Canaccord Genuity Group boosted their target price on shares of Tamarack Valley Energy from C$6.75 to C$8.00 in a research report on Thursday, December 4th. Finally, Desjardins upped their price target on shares of Tamarack Valley Energy from C$10.00 to C$10.50 and gave the stock a “buy” rating in a report on Thursday. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$10.11.

Tamarack Valley Energy Stock Performance

Shares of TSE:TVE traded up C$0.14 on Thursday, reaching C$9.67. 1,024,740 shares of the company’s stock were exchanged, compared to its average volume of 1,771,631. Tamarack Valley Energy has a twelve month low of C$3.10 and a twelve month high of C$10.05. The company has a fifty day moving average of C$8.71 and a 200-day moving average of C$7.18. The company has a market capitalization of C$4.71 billion, a price-to-earnings ratio of -56.88 and a beta of 0.87. The company has a current ratio of 0.73, a quick ratio of 0.80 and a debt-to-equity ratio of 34.61.

Tamarack Valley Energy (TSE:TVE) last released its quarterly earnings results on Wednesday, February 25th. The company reported C$0.10 earnings per share for the quarter. The company had revenue of C$304.60 million during the quarter. Tamarack Valley Energy had a net margin of 13.48% and a return on equity of 9.89%. On average, research analysts predict that Tamarack Valley Energy will post 0.1386527 EPS for the current fiscal year.

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.