Tamarack Valley Energy (TSE:TVE) Sets New 1-Year Low After Analyst Downgrade

Shares of Tamarack Valley Energy Ltd (TSE:TVE) hit a new 52-week low during mid-day trading on Friday after Royal Bank of Canada lowered their price target on the stock from C$2.50 to C$2.25. The stock traded as low as C$1.66 and last traded at C$1.68, with a volume of 114284 shares. The stock had previously closed at C$1.71.

TVE has been the topic of a number of other research reports. BMO Capital Markets lowered their price target on Tamarack Valley Energy from C$3.25 to C$3.00 in a report on Friday, August 9th. National Bank Financial lowered their price target on Tamarack Valley Energy from C$4.00 to C$3.75 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Raymond James reissued a “strong-buy” rating and set a C$3.50 price target on shares of Tamarack Valley Energy in a report on Friday, August 9th. CIBC lowered their price target on Tamarack Valley Energy from C$3.50 to C$3.00 in a report on Tuesday. Finally, Canaccord Genuity lowered their price target on Tamarack Valley Energy from C$4.00 to C$3.50 in a report on Tuesday, July 9th.

The company has a quick ratio of 0.65, a current ratio of 0.74 and a debt-to-equity ratio of 24.24. The stock has a fifty day moving average of C$1.98 and a 200-day moving average of C$2.17. The stock has a market cap of $387.84 million and a PE ratio of 9.22.

Tamarack Valley Energy Company Profile (TSE:TVE)

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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