CIBC Cuts Tamarack Valley Energy (TSE:TVE) Price Target to C$5.50

Tamarack Valley Energy (TSE:TVE) had its price target cut by research analysts at CIBC from C$6.50 to C$5.50 in a report issued on Thursday,BayStreet.CA reports. CIBC’s price target suggests a potential upside of 53.63% from the company’s previous close.

TVE has been the topic of a number of other research reports. Desjardins lowered shares of Tamarack Valley Energy from a “buy” rating to a “hold” rating and decreased their price target for the stock from C$6.00 to C$5.25 in a report on Wednesday, March 19th. BMO Capital Markets increased their target price on Tamarack Valley Energy from C$6.00 to C$6.50 in a research note on Thursday, February 13th. Finally, National Bankshares lowered their price target 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. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$5.69.

Tamarack Valley Energy Stock Up 1.4 %

Shares of TSE TVE opened at C$3.58 on Thursday. The company has a current ratio of 0.73, a quick ratio of 0.80 and a debt-to-equity ratio of 34.61. The business has a 50-day moving average of C$4.20 and a 200-day moving average of C$4.32. The firm has a market capitalization of C$1.89 billion, a price-to-earnings ratio of 9.17 and a beta of 2.49. Tamarack Valley Energy has a 12 month low of C$3.10 and a 12 month high of C$5.05.

Insider Activity

In other news, Senior Officer Brian Leslie Schmidt purchased 84,734 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were acquired at an average price of C$4.55 per share, with a total value of C$385,539.70. Also, Senior Officer Kevin James Johnston acquired 15,000 shares of the firm’s stock in a transaction on Wednesday, April 9th. The stock was purchased at an average price of C$3.29 per share, for a total transaction of C$49,350.00. In the last quarter, insiders purchased 139,784 shares of company stock valued at $598,425. 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.