Tamarack Valley Energy (TSE:TVE) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Tamarack Valley Energy (TSE:TVE) had its price objective increased by research analysts at BMO Capital Markets from C$6.00 to C$6.50 in a research note issued on Thursday,BayStreet.CA reports. BMO Capital Markets’ price objective suggests a potential upside of 42.86% from the stock’s previous close.

A number of other research analysts have also issued reports on TVE. Canaccord Genuity Group increased their target price on Tamarack Valley Energy from C$5.00 to C$5.75 in a research report on Thursday, December 5th. Raymond James upgraded Tamarack Valley Energy to a “hold” rating in a report on Thursday, October 17th. Acumen Capital raised their price objective on Tamarack Valley Energy from C$5.50 to C$6.00 and gave the company a “buy” rating in a report on Friday, November 1st. CIBC lifted their price target on Tamarack Valley Energy from C$5.75 to C$6.50 in a report on Friday, January 17th. Finally, National Bankshares reduced their price target on Tamarack Valley Energy from C$7.00 to C$6.75 and set an “outperform” rating on the stock in a report on Thursday, December 19th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$5.75.

Tamarack Valley Energy Price Performance

Shares of TSE:TVE traded down C$0.01 during midday trading on Thursday, reaching C$4.55. 1,123,789 shares of the company’s stock traded hands, compared to its average volume of 1,978,043. Tamarack Valley Energy has a 1 year low of C$3.04 and a 1 year high of C$5.05. The company has a market cap of C$2.40 billion, a P/E ratio of 11.65 and a beta of 2.49. The company has a debt-to-equity ratio of 34.61, a quick ratio of 0.80 and a current ratio of 0.73. The company has a fifty day simple moving average of C$4.59 and a two-hundred day simple moving average of C$4.25.

Insider Activity

In other news, Director Marnie Smith sold 9,668 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of C$4.42, for a total value of C$42,732.56. Company insiders own 1.32% of the company’s stock.

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.