Desjardins Forecasts Strong Price Appreciation for Tamarack Valley Energy (TSE:TVE) Stock

Tamarack Valley Energy (TSE:TVE) had its target price raised by investment analysts at Desjardins from C$10.00 to C$10.50 in a research note issued on Thursday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Desjardins’ price target would suggest a potential upside of 8.58% from the company’s previous close.

Several other analysts have also commented on TVE. Acumen Capital increased their price objective on Tamarack Valley Energy from C$7.25 to C$7.50 and gave the company a “buy” rating in a report on Thursday, October 30th. ATB Cormark Capital Markets raised their target price on shares of Tamarack Valley Energy from C$7.25 to C$9.00 and gave the stock an “outperform” rating in a report on Thursday, December 4th. BMO Capital Markets boosted their price target on Tamarack Valley Energy from C$9.00 to C$11.00 in a report on Friday, November 21st. Raymond James Financial cut Tamarack Valley Energy from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Finally, Canaccord Genuity Group upped their price objective on shares of Tamarack Valley Energy from C$6.75 to C$8.00 in a research report on Thursday, December 4th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$10.11.

Tamarack Valley Energy Stock Up 1.5%

TSE TVE traded up C$0.14 during trading on Thursday, reaching C$9.67. 1,024,740 shares of the company’s stock traded hands, compared to its average volume of 1,771,631. The firm has a market cap of C$4.71 billion, a price-to-earnings ratio of -56.88 and a beta of 0.87. The company’s 50 day simple moving average is C$8.71 and its two-hundred day simple moving average is C$7.18. 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$3.10 and a 12-month high of C$10.05.

Tamarack Valley Energy (TSE:TVE) last issued its quarterly earnings data on Wednesday, February 25th. The company reported C$0.10 EPS for the quarter. The company had revenue of C$304.60 million during the quarter. Tamarack Valley Energy had a net margin of 13.48% and a return on equity of 9.89%. As a group, sell-side analysts forecast that Tamarack Valley Energy will post 0.1386527 EPS for the current fiscal year.

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.