BMO Capital Markets Forecasts Strong Price Appreciation for Tamarack Valley Energy (TSE:TVE) Stock

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 report issued on Thursday,BayStreet.CA reports. BMO Capital Markets’ price target would indicate a potential upside of 42.86% from the company’s current price.

A number of other research analysts have also commented on TVE. National Bankshares decreased their price objective on Tamarack Valley Energy from C$7.00 to C$6.75 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. CIBC raised their price target on Tamarack Valley Energy from C$5.75 to C$6.50 in a research report on Friday, January 17th. Royal Bank of Canada raised their price target on Tamarack Valley Energy from C$4.50 to C$5.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Canaccord Genuity Group raised their price target on Tamarack Valley Energy from C$5.00 to C$5.75 in a research report on Thursday, December 5th. Finally, Raymond James upgraded Tamarack Valley Energy to a “hold” rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$5.75.

Tamarack Valley Energy Stock Down 0.2 %

TSE TVE traded down C$0.01 on Thursday, reaching C$4.55. The stock had a trading volume of 1,123,789 shares, compared to its average volume of 1,978,043. The company has a market capitalization of C$2.40 billion, a price-to-earnings ratio of 11.65 and a beta of 2.49. The business has a 50 day moving average price of C$4.59 and a 200 day moving average price of C$4.25. 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 current ratio of 0.73, a quick ratio of 0.80 and a debt-to-equity ratio of 34.61.

Insider Buying and Selling at Tamarack Valley Energy

In related news, Director Marnie Smith sold 9,668 shares of Tamarack Valley Energy stock in a transaction dated 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.