Canaccord Genuity analyst Anthony Petrucci maintained a Buy rating on Tamarack Valley Energy (TNEYF) yesterday and set a price target of C$1.20. The company’s shares closed last Wednesday at $0.77.
According to TipRanks.com, Petrucci has 0 stars on 0-5 stars ranking scale with an average return of -20.6% and a 25.5% success rate. Petrucci covers the Utilities sector, focusing on stocks such as Painted Pony Petroleum, Crescent Point Energy, and Whitecap Resources.
Currently, the analyst consensus on Tamarack Valley Energy is a Moderate Buy with an average price target of $1.05.
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Based on Tamarack Valley Energy’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $66.28 million and GAAP net loss of $251 million. In comparison, last year the company earned revenue of $95.62 million and had a GAAP net loss of $4.83 million.
Based on the recent corporate insider activity of 80 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TNEYF in relation to earlier this year.
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Tamarack Valley Energy Ltd is engaged in the exploration, development, and production of oil and natural gas. Its target is drilling and acquisition of repeatable and predictable long-life resource plays in the Western Canadian Sedimentary Basin. Its oil & gas properties include Cardium Oil, Viking Oil, and Penny Barons Oil.
