Tamarack-Valley-Energy-Ltd (TSE:TVE) Cut to “Hold” at Canaccord Genuity
Tamarack-Valley-Energy-Ltd (TSE:TVE) was downgraded by investment analysts at Canaccord Genuity from a “buy” rating to a “hold” rating in a research report issued on Tuesday. They presently have a C$2.50 target price on the oil and natural gas company’s stock, down from their prior target price of C$4.00. Canaccord Genuity’s price objective would indicate a potential upside of 17.37% from the stock’s previous close.
Other equities research analysts also recently issued reports about the company. Raymond James Financial, Inc. reaffirmed an “outperform” rating and set a C$3.75 price target on shares of Tamarack-Valley-Energy-Ltd in a report on Thursday, May 25th. Royal Bank Of Canada decreased their price target on Tamarack-Valley-Energy-Ltd from C$4.00 to C$3.50 and set a “sector perform” rating for the company in a report on Tuesday, May 16th.
Tamarack-Valley-Energy-Ltd (TSE:TVE) traded down 0.47% during trading on Tuesday, hitting $2.12. 107,343 shares of the stock traded hands. Tamarack-Valley-Energy-Ltd has a 12 month low of $1.96 and a 12 month high of $3.89. The firm’s 50-day moving average is $2.28 and its 200-day moving average is $2.86. The stock’s market cap is $482.66 million.
In other Tamarack-Valley-Energy-Ltd news, insider Gmt Capital Corp acquired 14,800 shares of the business’s stock in a transaction on Friday, April 28th. The stock was purchased at an average price of C$1.98 per share, for a total transaction of C$29,304.00. Insiders acquired 568,700 shares of company stock valued at $997,626 in the last quarter.
Tamarack Valley Energy Ltd. (Tamarack) is a Canada-based oil and natural gas company. The Company has working interests in petroleum and natural gas properties in the Alder Flats area. Tamarack has interests in over 220 sections of land in the Wilson Creek and Alder Flats area of Alberta. The Company operates a range of oil batteries, which have capacities of approximately 3,800 barrels per day (bbl/d) capacity and approximately 1,000 bbl/d; an approximately 30 million cubic feet per day (mmcf/d) gas plant, and an approximately six mmcf/d gas plant.
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