Analysts Set Tamarack Valley Energy Ltd (TSE:TVE) Price Target at C$3.35

Tamarack Valley Energy Ltd (TSE:TVE) has been given an average rating of “Buy” by the twelve ratings firms that are covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy rating. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is C$3.35.

TVE has been the topic of several recent analyst reports. TD Securities cut their price target on shares of Tamarack Valley Energy from C$3.75 to C$3.50 and set a “buy” rating on the stock in a report on Friday, November 8th. National Bank Financial cut their price target on shares of Tamarack Valley Energy from C$3.75 to C$3.50 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Royal Bank of Canada cut their price target on shares of Tamarack Valley Energy from C$2.50 to C$2.25 in a report on Friday, October 18th. Tudor Pickering reiterated a “buy” rating and issued a C$2.50 price target on shares of Tamarack Valley Energy in a report on Friday, January 10th. Finally, Raymond James set a C$3.25 price target on shares of Tamarack Valley Energy and gave the company an “outperform” rating in a report on Friday, January 10th.

In other news, Senior Officer Ken Cruikshank sold 37,440 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of C$1.80, for a total transaction of C$67,392.00. Following the sale, the insider now owns 164,667 shares in the company, valued at approximately C$296,400.60. Also, Senior Officer Ronald Steve Hozjan sold 25,999 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of C$1.94, for a total transaction of C$50,438.06. Following the sale, the insider now owns 404,661 shares in the company, valued at approximately C$785,042.34. In the last 90 days, insiders have sold 186,900 shares of company stock worth $350,304.

TSE:TVE traded down C$0.02 during trading hours on Friday, hitting C$2.00. The company had a trading volume of 221,380 shares, compared to its average volume of 801,232. The company has a market capitalization of $460.00 million and a PE ratio of 15.31. The stock has a 50-day moving average price of C$1.97 and a 200 day moving average price of C$1.93. Tamarack Valley Energy has a 52 week low of C$1.59 and a 52 week high of C$3.09. The company has a debt-to-equity ratio of 25.62, a current ratio of 0.70 and a quick ratio of 0.63.

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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