BMO Capital Markets Increases Tamarack Valley Energy (TSE:TVE) Price Target to C$6.50

Tamarack Valley Energy (TSE:TVE) had its price target boosted by BMO Capital Markets from C$6.00 to C$6.50 in a research report issued on Thursday,BayStreet.CA reports. BMO Capital Markets’ price target would suggest a potential upside of 46.07% from the company’s current price.

Other research analysts have also recently issued reports about the stock. CIBC boosted their target price on shares of Tamarack Valley Energy from C$5.75 to C$6.50 in a research note on Friday, January 17th. National Bankshares dropped 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 note on Thursday, December 19th. Raymond James raised Tamarack Valley Energy to a “hold” rating in a research report on Thursday, October 17th. Royal Bank of Canada upped their price target on 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. Finally, Acumen Capital lifted their price objective on Tamarack Valley Energy from C$5.50 to C$6.00 and gave the stock a “buy” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company 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 opened at C$4.45 on Thursday. The company has a market capitalization of C$2.35 billion, a P/E ratio of 11.39 and a beta of 2.49. The company’s 50-day moving average is C$4.59 and its 200 day moving average is C$4.25. The company has a debt-to-equity ratio of 34.61, a quick ratio of 0.80 and a current ratio of 0.73. Tamarack Valley Energy has a fifty-two week low of C$3.07 and a fifty-two week high of C$5.05.

Insider Activity

In related news, Director Marnie Smith sold 9,668 shares of the company’s 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 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.