National Bankshares Issues Positive Forecast for Tamarack Valley Energy (TSE:TVE) Stock Price

Tamarack Valley Energy (TSE:TVE - Get Free Report) had its target price raised by equities research analysts at National Bankshares from C$6.75 to C$7.00 in a research report issued on Friday, BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. National Bankshares' target price indicates a potential upside of 64.32% from the stock's previous close.

A number of other research firms also recently issued reports on TVE. Royal Bank of Canada boosted their price objective on shares of Tamarack Valley Energy from C$4.50 to C$5.00 and gave the company an "outperform" rating in a report on Friday. Acumen Capital boosted their price objective on shares of Tamarack Valley Energy from C$5.50 to C$6.00 and gave the company a "buy" rating in a report on Friday. Raymond James raised shares of Tamarack Valley Energy to a "hold" rating in a report on Thursday, October 17th. BMO Capital Markets raised shares of Tamarack Valley Energy from a "market perform" rating to an "outperform" rating in a report on Friday, October 4th. Finally, CIBC boosted their price objective on shares of Tamarack Valley Energy from C$5.50 to C$5.75 and gave the company an "outperform" rating in a report on Friday. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Tamarack Valley Energy has an average rating of "Moderate Buy" and an average target price of C$5.23.

Tamarack Valley Energy Stock Up 2.7 %

TVE stock traded up C$0.11 during midday trading on Friday, hitting C$4.26. The company's stock had a trading volume of 6,590,107 shares, compared to its average volume of 2,409,551. The company's fifty day moving average price is C$3.97 and its 200 day moving average price is C$3.84. Tamarack Valley Energy has a twelve month low of C$2.76 and a twelve month high of C$4.35. The stock has a market capitalization of C$2.32 billion, a P/E ratio of 18.52 and a beta of 2.49. The company has a debt-to-equity ratio of 41.72, a current ratio of 0.90 and a quick ratio of 0.80.

Tamarack Valley Energy (TSE:TVE - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The company reported C$0.17 EPS for the quarter. The company had revenue of C$382.98 million during the quarter. Tamarack Valley Energy had a net margin of 8.66% and a return on equity of 5.94%. As a group, equities research analysts predict that Tamarack Valley Energy will post 0.1386527 EPS for the current year.

Insider Buying and Selling

In related news, Senior Officer Christine Ezinga acquired 13,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average cost of C$3.99 per share, for a total transaction of C$51,870.00. Insiders purchased a total of 28,173 shares of company stock worth $107,945 in the last three months. 1.32% of the stock is owned by corporate insiders.

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.