Tamarack Valley Energy (TSE:TVE) Given New C$9.00 Price Target at CIBC

Tamarack Valley Energy (TSE:TVE) had its target price boosted by equities research analysts at CIBC from C$8.00 to C$9.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. CIBC’s price target would suggest a potential upside of 10.84% from the stock’s current price.

A number of other equities research analysts also recently commented on the stock. National Bankshares lifted their target price on shares of Tamarack Valley Energy from C$8.00 to C$9.00 and gave the stock an “outperform” rating in a research report on Thursday. Desjardins lifted their price objective on Tamarack Valley Energy from C$7.75 to C$8.50 and gave the stock a “buy” rating in a report on Monday, November 24th. Raymond James Financial increased their target price on Tamarack Valley Energy from C$6.50 to C$7.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Canaccord Genuity Group raised their target price on Tamarack Valley Energy from C$6.75 to C$8.00 in a research report on Thursday. Finally, ATB Capital upped their target price on shares of Tamarack Valley Energy from C$7.25 to C$9.00 and gave the company an “outperform” rating in a report on Thursday. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$8.60.

Tamarack Valley Energy Stock Up 0.7%

Tamarack Valley Energy stock traded up C$0.06 during mid-day trading on Thursday, reaching C$8.12. The stock had a trading volume of 904,337 shares, compared to its average volume of 1,947,351. The company has a debt-to-equity ratio of 34.61, a current ratio of 0.73 and a quick ratio of 0.80. The company has a market capitalization of C$3.99 billion, a price-to-earnings ratio of -47.76 and a beta of 0.79. Tamarack Valley Energy has a one year low of C$3.10 and a one year high of C$8.32. The company has a 50-day moving average price of C$6.61 and a two-hundred day moving average price of C$5.64.

Tamarack Valley Energy (TSE:TVE) last posted its quarterly earnings results on Friday, October 31st. The company reported C($0.50) earnings per share for the quarter. Tamarack Valley Energy had a return on equity of 9.89% and a net margin of 13.48%.The business had revenue of C$406.32 million during the quarter. On average, analysts expect that Tamarack Valley Energy will post 0.1386527 EPS for the current fiscal year.

Insider Buying and Selling at Tamarack Valley Energy

In other Tamarack Valley Energy news, Director Shannon Joseph bought 16,129 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The stock was purchased at an average price of C$6.32 per share, for a total transaction of C$101,935.28. Following the completion of the transaction, the director owned 38,328 shares of the company’s stock, valued at C$242,232.96. This trade represents a 72.66% increase in their position. 1.32% of the stock is currently owned by company insiders.

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.