Tamarack Valley Energy (TSE:TVE) Price Target Lowered to C$3.50 at CIBC

Tamarack Valley Energy (TSE:TVE) had its price target reduced by CIBC from C$4.50 to C$3.50 in a research report sent to investors on Thursday morning, BayStreet.CA reports.

A number of other research firms have also issued reports on TVE. Raymond James restated a hold rating on shares of PrairieSky Royalty in a research report on Thursday, July 11th. Eight Capital boosted their price objective on Tamarack Valley Energy from C$4.00 to C$4.25 in a research report on Friday, May 10th. GMP Securities restated a buy rating and set a $22.25 price objective on shares of SPDR Wells Fargo Preferred Stock ETF in a research report on Friday, June 28th. National Bank Financial reduced their price objective on Yangarra Resources from C$5.50 to C$5.00 and set an outperform rating for the company in a research report on Tuesday, June 25th. Finally, Canaccord Genuity restated a buy rating and set a $7.50 price objective on shares of in a research report on Tuesday, July 9th.

TSE:TVE opened at C$2.01 on Thursday. Tamarack Valley Energy has a 12-month low of C$1.81 and a 12-month high of C$5.20. The firm has a market cap of $473.16 million and a price-to-earnings ratio of 15.34. The company has a quick ratio of 0.52, a current ratio of 0.56 and a debt-to-equity ratio of 25.12. The firm’s 50 day moving average is C$2.09.

Tamarack Valley Energy (TSE:TVE) last released its quarterly earnings data on Thursday, May 9th. The company reported C($0.02) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$0.04 by C($0.06). The company 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 forecast that Tamarack Valley Energy will post 0.15 EPS for the current fiscal 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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