Tamarack Valley Energy (TSE:TVE) Reaches New 52-Week High Following Analyst Upgrade

Tamarack Valley Energy Ltd (TSE:TVE)’s share price reached a new 52-week high on Friday after National Bank Financial raised their price target on the stock from C$10.00 to C$11.50. National Bank Financial currently has an outperform rating on the stock. Tamarack Valley Energy traded as high as C$10.19 and last traded at C$10.15, with a volume of 920314 shares traded. The stock had previously closed at C$9.74.

Other analysts have also recently issued reports about the company. Desjardins raised their price target on Tamarack Valley Energy from C$10.00 to C$10.50 and gave the company a “buy” rating in a research note on Thursday. Canadian Imperial Bank of Commerce increased their price objective on Tamarack Valley Energy from C$8.00 to C$9.00 and gave the company an “outperform” rating in a report on Thursday, December 4th. BMO Capital Markets boosted their target price on Tamarack Valley Energy from C$9.00 to C$11.00 in a research note on Friday, November 21st. Royal Bank Of Canada upped their price target on Tamarack Valley Energy from C$8.00 to C$9.00 and gave the company an “outperform” rating in a report on Thursday, December 4th. Finally, Raymond James Financial cut shares of Tamarack Valley Energy from a “moderate buy” rating to a “hold” rating in a report on Tuesday, December 9th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$10.11.

Key Headlines Impacting Tamarack Valley Energy

Here are the key news stories impacting Tamarack Valley Energy this week:

• Positive Sentiment: National Bank Financial raised its price target to C$11.50 and assigned an “outperform” rating, implying roughly an 18% upside versus the C$9.74 reference price. Read More.
• Positive Sentiment: ATB Cormark Capital Markets raised its target to C$11.50 and reiterated an “outperform” view, signaling similar upside potential (~18%). Read More.
• Positive Sentiment: Desjardins increased its target to C$10.50 and rates TVE a “buy,” implying about a 7.8% upside from the C$9.74 reference. Read More.
• Positive Sentiment: Acumen Capital bumped its target sharply to C$10.50 (from C$7.50) and holds a “buy” rating, also implying roughly 7.8% upside versus C$9.74. Read More.
• Negative Sentiment: Canaccord Genuity raised its target to C$9.00 but kept a “hold” rating; that target sits below the C$9.74 reference price and represents ~7.6% downside, tempering the otherwise bullish analyst flow. Read More.

Tamarack Valley Energy Trading Up 4.6%

The business’s 50-day moving average price is C$8.80 and its 200-day moving average price is C$7.24. The firm has a market capitalization of C$4.96 billion, a PE ratio of -145.57 and a beta of 0.87. 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 (TSE:TVE) last issued its quarterly earnings results on Wednesday, February 25th. The company reported C$0.10 earnings per share for the quarter. Tamarack Valley Energy had a net margin of 13.48% and a return on equity of 9.89%. The firm had revenue of C$304.60 million during the quarter. As a group, analysts expect that Tamarack Valley Energy Ltd will post 0.1386527 earnings per share 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.