Tamarack Valley Energy (TSE:TVE) Stock Rating Lowered by Desjardins

Tamarack Valley Energy (TSE:TVE) was downgraded by investment analysts at Desjardins from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, Marketbeat Ratings reports. They presently have a C$5.25 price target on the stock, down from their previous price target of C$6.00. Desjardins’ price objective would indicate a potential upside of 22.09% from the company’s current price.

TVE has been the subject of a number of other reports. BMO Capital Markets lifted their price objective on Tamarack Valley Energy from C$6.00 to C$6.50 in a research note on Thursday, February 13th. Canaccord Genuity Group lifted their price objective on Tamarack Valley Energy from C$5.00 to C$5.75 in a research note on Thursday, December 5th. CIBC boosted their target price on Tamarack Valley Energy from C$5.75 to C$6.50 in a research note on Friday, January 17th. Finally, National Bankshares decreased their target price on 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. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$5.81.

Tamarack Valley Energy Stock Up 1.2 %

Shares of Tamarack Valley Energy stock opened at C$4.30 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 0.73 and a debt-to-equity ratio of 34.61. Tamarack Valley Energy has a 12 month low of C$3.44 and a 12 month high of C$5.05. The business has a fifty day simple moving average of C$4.42 and a 200 day simple moving average of C$4.31. The stock has a market cap of C$2.27 billion, a PE ratio of 11.01 and a beta of 2.49.

Insider Activity

In other news, Senior Officer Brian Leslie Schmidt purchased 84,734 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were bought at an average cost of C$4.55 per share, for a total transaction 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.