Tamarack Valley Energy (TSE:TVE) Cut to Hold at Desjardins

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

Several other equities research analysts also recently weighed in on the stock. CIBC lifted their price target on shares of Tamarack Valley Energy from C$5.75 to C$6.50 in a research note on Friday, January 17th. Canaccord Genuity Group boosted their price target on shares of Tamarack Valley Energy from C$5.00 to C$5.75 in a research note on Thursday, December 5th. National Bankshares decreased their price target 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. Finally, BMO Capital Markets increased their price target on shares of Tamarack Valley Energy from C$6.00 to C$6.50 in a report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Tamarack Valley Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of C$5.81.

Tamarack Valley Energy Price Performance

TSE:TVE traded up C$0.02 during mid-day trading on Wednesday, reaching C$4.23. The stock had a trading volume of 1,293,256 shares, compared to its average volume of 2,273,016. The stock has a market capitalization of C$2.23 billion, a PE ratio of 10.83 and a beta of 2.49. The stock has a 50-day simple moving average of C$4.45 and a two-hundred day simple moving average of C$4.30. The company has a debt-to-equity ratio of 34.61, a current ratio of 0.73 and a quick ratio of 0.80. Tamarack Valley Energy has a 12 month low of C$3.44 and a 12 month high of C$5.05.

Insider Buying and Selling at Tamarack Valley Energy

In other news, Senior Officer Brian Leslie Schmidt purchased 84,734 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was purchased at an average cost of C$4.55 per share, with a total value of C$385,539.70. 1.32% of the stock is currently owned by insiders.

Tamarack Valley Energy Company Profile

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.