CIBC Has Lowered Expectations for Tamarack Valley Energy (TSE:TVE) Stock Price

Tamarack Valley Energy (TSE:TVE) had its target price cut by analysts at CIBC from C$6.50 to C$5.50 in a report issued on Thursday,BayStreet.CA reports. CIBC’s target price would suggest a potential upside of 53.63% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on TVE. National Bankshares decreased their price target on Tamarack Valley Energy from C$7.00 to C$6.75 and set an “outperform” rating for the company in a report on Thursday, December 19th. Desjardins lowered shares of Tamarack Valley Energy from a “buy” rating to a “hold” rating and lowered their price target for the company from C$6.00 to C$5.25 in a report on Wednesday, March 19th. Finally, BMO Capital Markets boosted their price objective on shares of Tamarack Valley Energy from C$6.00 to C$6.50 in a report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Tamarack Valley Energy presently has a consensus rating of “Moderate Buy” and an average target price of C$5.69.

Tamarack Valley Energy Stock Down 5.3 %

Shares of TVE traded down C$0.20 during midday trading on Thursday, reaching C$3.58. 1,015,504 shares of the company were exchanged, compared to its average volume of 2,203,995. Tamarack Valley Energy has a 1-year low of C$3.10 and a 1-year high of C$5.05. The stock has a 50-day moving average price of C$4.24 and a 200-day moving average price of C$4.33. The company has a current ratio of 0.73, a quick ratio of 0.80 and a debt-to-equity ratio of 34.61. The company has a market cap of C$1.89 billion, a price-to-earnings ratio of 9.17 and a beta of 2.49.

Insiders Place Their Bets

In related news, Director Robert Spitzer purchased 31,985 shares of the business’s stock in a transaction that occurred on Thursday, April 3rd. The shares were acquired at an average price of C$4.19 per share, with a total value of C$134,017.15. Also, Senior Officer Brian Leslie Schmidt acquired 84,734 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average price of C$4.55 per share, with a total value of C$385,539.70. Insiders have bought a total of 139,784 shares of company stock valued at $598,425 in the last quarter. Insiders own 1.32% of the company’s stock.

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.