CIBC Increases Tamarack Valley Energy (TSE:TVE) Price Target to C$6.50

Tamarack Valley Energy (TSE:TVE) had its price objective raised by research analysts at CIBC from C$5.75 to C$6.50 in a note issued to investors on Friday,BayStreet.CA reports. CIBC’s price objective would indicate a potential upside of 39.19% from the company’s previous close.

A number of other research analysts also recently commented on the stock. Royal Bank of Canada raised their target price on shares of Tamarack Valley Energy from C$4.50 to C$5.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Acumen Capital raised their target price on shares of Tamarack Valley Energy from C$5.50 to C$6.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Canaccord Genuity Group raised their target price on shares of Tamarack Valley Energy from C$5.00 to C$5.75 in a research report on Thursday, December 5th. BMO Capital Markets raised their target price on shares of Tamarack Valley Energy from C$5.50 to C$6.00 in a research report on Friday, December 13th. Finally, National Bankshares cut their target price on shares of 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. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Tamarack Valley Energy currently has an average rating of “Moderate Buy” and an average price target of C$5.55.

Tamarack Valley Energy Trading Down 0.2 %

Shares of TVE opened at C$4.67 on Friday. Tamarack Valley Energy has a 1-year low of C$2.90 and a 1-year high of C$5.05. The company has a 50-day moving average of C$4.55 and a 200 day moving average of C$4.16. The firm has a market capitalization of C$2.54 billion, a price-to-earnings ratio of 20.30 and a beta of 2.49. The company has a debt-to-equity ratio of 41.72, a current ratio of 0.90 and a quick ratio of 0.80.

Insiders Place Their Bets

In other Tamarack Valley Energy news, Director Marnie Smith sold 9,668 shares of Tamarack Valley Energy stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of C$4.42, for a total transaction of C$42,732.56. 1.32% of the stock is owned by 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.