Tamarack Valley Energy (TVE) Reaches New 12-Month Low Following Analyst Downgrade

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Tamarack Valley Energy Ltd (TSE:TVE) hit a new 52-week low during trading on Thursday after TD Securities lowered their price target on the stock from C$7.00 to C$6.50. TD Securities currently has a buy rating on the stock. Tamarack Valley Energy traded as low as C$3.24 and last traded at C$3.24, with a volume of 697091 shares. The stock had previously closed at C$3.53.

A number of other equities research analysts have also recently issued reports on TVE. BMO Capital Markets upped their target price on shares of Tamarack Valley Energy from C$5.00 to C$6.00 in a report on Friday, August 10th. Desjardins upped their target price on shares of Tamarack Valley Energy from C$6.00 to C$6.50 in a report on Friday, August 10th. Eight Capital upped their target price on shares of Tamarack Valley Energy from C$6.50 to C$7.00 in a report on Friday, August 10th. CIBC upped their target price on shares of Tamarack Valley Energy from C$6.00 to C$6.25 in a report on Friday, July 20th. Finally, Cormark upped their target price on shares of Tamarack Valley Energy from C$5.75 to C$6.00 in a report on Tuesday, October 9th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Tamarack Valley Energy has an average rating of “Buy” and a consensus price target of C$5.88.

In other Tamarack Valley Energy news, insider David Keith Christensen sold 25,000 shares of the stock in a transaction dated Wednesday, October 3rd. The shares were sold at an average price of C$5.15, for a total value of C$128,750.00. Also, Director Jeff Boyce sold 90,000 shares of the stock in a transaction dated Thursday, October 4th. The shares were sold at an average price of C$5.05, for a total transaction of C$454,500.00.

The company has a debt-to-equity ratio of 20.20, a current ratio of 0.42 and a quick ratio of 0.38.

Tamarack Valley Energy (TSE:TVE) last released its quarterly earnings results on Thursday, August 9th. The company reported C$0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.05 by C($0.04). The business had revenue of C$107.86 million for the quarter, compared to analysts’ expectations of C$98.30 million. Analysts forecast that Tamarack Valley Energy Ltd will post 0.220000005770492 earnings per share for the current fiscal year.

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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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