Tamarack Valley Energy (TSE:TVE) Downgraded to “Hold” Rating by Desjardins

Tamarack Valley Energy (TSE:TVE) was downgraded by equities researchers at Desjardins from a “buy” rating to a “hold” rating in a research note issued on Wednesday,BayStreet.CA reports. They currently have a C$5.25 target price on the stock, down from their previous target price of C$6.00. Desjardins’ price target indicates a potential upside of 24.11% from the company’s current price.

Other research analysts have also issued research reports about the company. CIBC increased their target price on Tamarack Valley Energy from C$5.75 to C$6.50 in a research report on Friday, January 17th. National Bankshares lowered their target price on shares of Tamarack Valley Energy from C$7.00 to C$6.75 and set an “outperform” rating for the company in a research note on Thursday, December 19th. Canaccord Genuity Group boosted their price target on Tamarack Valley Energy from C$5.00 to C$5.75 in a research note on Thursday, December 5th. Finally, BMO Capital Markets upped their target price on Tamarack Valley Energy from C$6.00 to C$6.50 in a research note on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Tamarack Valley Energy presently has an average rating of “Moderate Buy” and a consensus price target of C$5.81.

Tamarack Valley Energy Stock Up 0.5 %

Shares of TVE stock traded up C$0.02 during trading hours on Wednesday, reaching C$4.23. The company had a trading volume of 1,293,256 shares, compared to its average volume of 2,273,016. The business has a fifty day simple moving average of C$4.45 and a 200-day simple moving average of C$4.30. The company has a market cap of C$2.23 billion, a price-to-earnings ratio of 10.83 and a beta of 2.49. Tamarack Valley Energy has a 12 month low of C$3.44 and a 12 month high of C$5.05. The company has a debt-to-equity ratio of 34.61, a current ratio of 0.73 and a quick ratio of 0.80.

Insider Activity at Tamarack Valley Energy

In other Tamarack Valley Energy news, Senior Officer Brian Leslie Schmidt bought 84,734 shares of Tamarack Valley Energy stock in a transaction dated Monday, March 3rd. The shares were acquired at an average cost of C$4.55 per share, with a total value of C$385,539.70. Corporate 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.