Raymond James Financial Downgrades Tamarack Valley Energy (TSE:TVE) to Hold

Tamarack Valley Energy (TSE:TVE) was downgraded by stock analysts at Raymond James Financial from a “moderate buy” rating to a “hold” rating in a report released on Tuesday, MarketBeat Ratings reports.

A number of other equities analysts have also recently issued reports on the company. Acumen Capital raised their target price on Tamarack Valley Energy from C$7.25 to C$7.50 and gave the stock a “buy” rating in a report on Thursday, October 30th. National Bankshares increased their price target on shares of Tamarack Valley Energy from C$8.00 to C$9.00 and gave the company an “outperform” rating in a research report on Thursday, December 4th. Canaccord Genuity Group boosted their price objective on shares of Tamarack Valley Energy from C$6.75 to C$8.00 in a report on Thursday, December 4th. BMO Capital Markets upped their target price on shares of Tamarack Valley Energy from C$9.00 to C$11.00 in a research note on Friday, November 21st. Finally, Royal Bank Of Canada lifted their price target on shares of Tamarack Valley Energy from C$8.00 to C$9.00 and gave the stock an “outperform” rating in a research report on Thursday, December 4th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Tamarack Valley Energy has an average rating of “Moderate Buy” and an average target price of C$8.92.

Tamarack Valley Energy Price Performance

Shares of TVE stock opened at C$7.77 on Tuesday. Tamarack Valley Energy has a 52-week low of C$3.10 and a 52-week high of C$8.32. The stock has a market cap of C$3.82 billion, a PE ratio of -45.71 and a beta of 0.95. The company has a debt-to-equity ratio of 34.61, a quick ratio of 0.80 and a current ratio of 0.73. The firm’s 50 day moving average price is C$6.80 and its two-hundred day moving average price is C$5.76.

Tamarack Valley Energy (TSE:TVE) last issued its earnings results on Friday, October 31st. The company reported C($0.50) EPS for the quarter. Tamarack Valley Energy had a net margin of 13.48% and a return on equity of 9.89%. The business had revenue of C$406.32 million for the quarter. As a group, analysts forecast that Tamarack Valley Energy will post 0.1386527 EPS for the current year.

Insiders Place Their Bets

In related news, Director Shannon Joseph bought 16,129 shares of Tamarack Valley Energy stock in a transaction that occurred on Thursday, November 6th. The stock was purchased at an average cost of C$6.32 per share, with a total value of C$101,935.28. Following the purchase, the director owned 38,328 shares in the company, valued at approximately C$242,232.96. This trade represents a 72.66% increase in their ownership of the stock. Insiders own 1.32% of the company’s stock.

Tamarack Valley Energy Company Profile

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.