Royal Bank of Canada reaffirmed their sector perform rating on shares of Tamarack Valley Energy (TSE:TVE) in a research note released on Thursday morning, BayStreet.CA reports. The brokerage currently has a C$2.50 price objective on the stock.
A number of other equities analysts also recently issued reports on the company. GMP Securities dropped their price target on Tamarack Valley Energy from C$4.50 to C$4.25 in a research report on Friday, June 28th. CIBC dropped their price objective on Tamarack Valley Energy from C$4.50 to C$3.50 in a research report on Thursday, July 18th. Canaccord Genuity dropped their price objective on Tamarack Valley Energy from C$4.00 to C$3.50 in a research report on Tuesday, July 9th. Laurentian dropped their price objective on Tamarack Valley Energy from C$5.50 to C$5.25 in a research report on Wednesday, July 24th. Finally, Raymond James reaffirmed a strong-buy rating and set a C$3.50 price objective on shares of Tamarack Valley Energy in a research report on Friday, August 9th.
TVE opened at C$1.77 on Thursday. Tamarack Valley Energy has a 12-month low of C$1.71 and a 12-month high of C$5.20. The company has a current ratio of 0.74, a quick ratio of 0.65 and a debt-to-equity ratio of 24.24. The business’s fifty day simple moving average is C$2.00 and its 200-day simple moving average is C$2.33. The company has a market capitalization of $399.12 million and a price-to-earnings ratio of 9.83.
In related news, Senior Officer Ronald Steve Hozjan sold 43,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of C$1.96, for a total transaction of C$84,280.00. Following the sale, the insider now owns 319,949 shares of the company’s stock, valued at C$627,100.04.
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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