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

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

TVE has been the subject of a number of other research reports. GMP Securities reissued a buy rating and set a $22.25 price objective on shares of SPDR Wells Fargo Preferred Stock ETF in a research report on Friday, June 28th. Eight Capital boosted their price objective on shares of Tamarack Valley Energy from C$4.00 to C$4.25 in a research report on Friday, May 10th. Raymond James reissued a hold rating on shares of PrairieSky Royalty in a research report on Thursday, July 11th. Canaccord Genuity reissued a buy rating and set a $7.50 price objective on shares of in a research report on Tuesday, July 9th. Finally, National Bank Financial cut their price objective on shares of 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.

Shares of TVE stock opened at C$2.01 on Thursday. Tamarack Valley Energy has a 1 year low of C$1.81 and a 1 year high of C$5.20. The company’s fifty day simple moving average is C$2.09. The company has a debt-to-equity ratio of 25.12, a quick ratio of 0.52 and a current ratio of 0.56. The company has a market cap of $473.16 million and a P/E ratio of 15.34.

Tamarack Valley Energy (TSE:TVE) last issued its quarterly earnings data on Thursday, May 9th. The company reported C($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.04 by C($0.06). The firm had revenue of C$95.05 million for the quarter, compared to analysts’ expectations of C$99.70 million. As a group, sell-side analysts expect that Tamarack Valley Energy will post 0.15 earnings per share 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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