Tamarack-Valley-Energy (TVE) Upgraded by Canaccord Genuity to Buy
Tamarack-Valley-Energy (CVE:TVE) was upgraded by equities research analysts at Canaccord Genuity from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage presently has a C$4.00 price objective on the stock, up from their previous price objective of C$3.50.
A number of other equities research analysts have also issued reports on the stock. Desjardins reaffirmed a “buy” rating and set a C$4.00 target price on shares of Tamarack-Valley-Energy in a report on Monday, December 18th. BMO Capital Markets upped their price objective on shares of Tamarack-Valley-Energy from C$3.50 to C$4.25 and gave the company an “outperform” rating in a report on Tuesday, December 12th. Royal Bank of Canada upped their price objective on shares of Tamarack-Valley-Energy from C$2.75 to C$3.25 and gave the company a “sector perform” rating in a report on Thursday, November 30th. Raymond James Financial upped their price objective on shares of Tamarack-Valley-Energy from C$3.50 to C$3.75 and gave the company an “outperform” rating in a report on Thursday, November 9th. Finally, National Bank Financial upped their price objective on shares of Tamarack-Valley-Energy from C$3.75 to C$4.00 and gave the company an “outperform” rating in a report on Wednesday, November 8th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of C$4.09.
Tamarack-Valley-Energy has a 52 week low of C$2.11 and a 52 week high of C$7.85.
In related news, insider Gmt Capital Corp bought 16,700 shares of the firm’s stock in a transaction on Thursday, October 19th. The shares were bought at an average price of C$2.04 per share, with a total value of C$34,068.00. Also, insider Ronald Steve Hozjan sold 40,000 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of C$2.65, for a total transaction of C$106,000.00. In the last three months, insiders purchased 90,400 shares of company stock valued at $198,638 and sold 78,400 shares valued at $210,960.
Tamarack Valley Energy Ltd. (Tamarack) is a Canada-based oil and natural gas company. The Company has working interests in petroleum and natural gas properties in the Alder Flats area. Tamarack has interests in over 220 sections of land in the Wilson Creek and Alder Flats area of Alberta. The Company operates a range of oil batteries, which have capacities of approximately 3,800 barrels per day (bbl/d) capacity and approximately 1,000 bbl/d; an approximately 30 million cubic feet per day (mmcf/d) gas plant, and an approximately six mmcf/d gas plant.
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