Tamarack Valley Energy (TSE:TVE) Price Target Lowered to C$3.50 at CIBC

Tamarack Valley Energy (TSE:TVE) had its price objective trimmed by CIBC from C$4.50 to C$3.50 in a research note released on Thursday morning, BayStreet.CA reports.

Other research analysts have also recently issued research reports about the company. Canaccord Genuity reiterated a buy rating and issued a $7.50 price objective on shares of in a research report on Tuesday, July 9th. Eight Capital increased their price objective on Tamarack Valley Energy from C$4.00 to C$4.25 in a research report on Friday, May 10th. GMP Securities reiterated a buy rating and issued a $22.25 price objective on shares of SPDR Wells Fargo Preferred Stock ETF in a research report on Friday, June 28th. Raymond James reiterated a hold rating on shares of PrairieSky Royalty in a research report on Thursday, July 11th. Finally, National Bank Financial cut their price objective on Yangarra Resources from C$5.50 to C$5.00 and set an outperform rating for the company in a research report on Tuesday, June 25th.

TSE:TVE opened at C$2.01 on Thursday. The business has a fifty day simple moving average of C$2.09. The stock has a market capitalization of $473.16 million and a PE ratio of 15.34. The company has a debt-to-equity ratio of 25.12, a current ratio of 0.56 and a quick ratio of 0.52. Tamarack Valley Energy has a 1 year low of C$1.81 and a 1 year high of C$5.20.

Tamarack Valley Energy (TSE:TVE) last released its quarterly earnings data on Thursday, May 9th. The company reported C($0.02) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.04 by C($0.06). The business had revenue of C$95.05 million during the quarter, compared to analysts’ expectations of C$99.70 million. Sell-side analysts anticipate that Tamarack Valley Energy will post 0.15 EPS for the current fiscal year.

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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