Tamarack Valley Energy (TSE:TVE) Price Target Cut to C$4.25

Tamarack Valley Energy (TSE:TVE) had its price objective dropped by equities research analysts at GMP Securities from C$4.50 to C$4.25 in a report released on Friday, June 28th, BayStreet.CA reports. GMP Securities’ target price indicates a potential upside of 111.44% from the company’s current price.

TVE has been the topic of several other research reports. National Bank Financial decreased their price objective on Yangarra Resources from C$5.50 to C$5.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Eight Capital raised their price objective on Tamarack Valley Energy from C$4.00 to C$4.25 in a report on Friday, May 10th. TD Securities increased their target price on Viper Energy Partners from $44.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, February 28th. Raymond James reaffirmed a “buy” rating on shares of Tamarack-Valley-Energy in a research report on Tuesday, May 28th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $24.00 target price on shares of Propetro in a research report on Thursday, February 28th.

Shares of TVE stock traded up C$0.03 during mid-day trading on Friday, hitting C$2.01. 235,300 shares of the company’s stock were exchanged, compared to its average volume of 878,803. Tamarack Valley Energy has a fifty-two week low of C$1.81 and a fifty-two week high of C$5.20. The company has a 50-day simple moving average of C$2.09. The company has a current ratio of 0.56, a quick ratio of 0.52 and a debt-to-equity ratio of 25.12. The stock has a market capitalization of $473.16 million and a PE ratio of 15.34.

Tamarack Valley Energy (TSE:TVE) last posted its quarterly earnings data on Thursday, May 9th. The company reported C($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.04 by C($0.06). The firm had revenue of C$95.05 million during the quarter, compared to analyst estimates of C$99.70 million. As a group, sell-side analysts anticipate that Tamarack Valley Energy will post 0.15 EPS for the current year.

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.

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