National Bankshares Lowers Tamarack Valley Energy (TSE:TVE) Price Target to C$6.75

Tamarack Valley Energy (TSE:TVE) had its price target reduced by analysts at National Bankshares from C$7.00 to C$6.75 in a note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. National Bankshares’ target price points to a potential upside of 59.95% from the stock’s current price.

A number of other analysts have also recently issued reports on the stock. Canaccord Genuity Group increased their price objective on shares of Tamarack Valley Energy from C$5.00 to C$5.75 in a research note on Thursday, December 5th. Raymond James upgraded Tamarack Valley Energy to a “hold” rating in a research report on Thursday, October 17th. Acumen Capital boosted their price target on Tamarack Valley Energy from C$5.50 to C$6.00 and gave the stock a “buy” rating in a report on Friday, November 1st. BMO Capital Markets increased their price objective on shares of Tamarack Valley Energy from C$5.50 to C$6.00 in a report on Friday, December 13th. Finally, Royal Bank of Canada boosted their target price on shares of Tamarack Valley Energy from C$4.50 to C$5.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$5.48.

Tamarack Valley Energy Stock Performance

Shares of TSE TVE traded up C$0.01 during trading on Thursday, hitting C$4.22. The company had a trading volume of 1,326,041 shares, compared to its average volume of 2,424,630. The stock has a 50 day simple moving average of C$4.28 and a 200 day simple moving average of C$3.99. The firm has a market capitalization of C$2.30 billion, a P/E ratio of 18.35 and a beta of 2.49. The company has a debt-to-equity ratio of 41.72, a quick ratio of 0.80 and a current ratio of 0.90. Tamarack Valley Energy has a 12 month low of C$2.90 and a 12 month high of C$4.70.

Insiders Place Their Bets

In other news, Director Marnie Smith sold 9,668 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of C$4.42, for a total transaction of C$42,732.56. 1.32% of the stock is owned by 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.