Raymond James Maintains Their Buy Rating on Tamarack Valley Energy (TNEYF)
Raymond James analyst Jeremy Mccrea maintained a Buy rating on Tamarack Valley Energy (TNEYF) today and set a price target of C$1.75. The company’s shares closed last Monday at $1.10.
According to TipRanks.com, Mccrea is ranked 0 out of 5 stars with an average return of -14.1% and a 34.8% success rate. Mccrea covers the Utilities sector, focusing on stocks such as Whitecap Resources, Birchcliff Energy, and Vermilion Energy.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Tamarack Valley Energy with a $1.41 average price target, implying a 28.1% upside from current levels. In a report issued on December 28, Canaccord Genuity also maintained a Buy rating on the stock with a C$1.75 price target.
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Based on Tamarack Valley Energy’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $57.79 million and GAAP net loss of $5.78 million. In comparison, last year the company earned revenue of $90.54 million and had a GAAP net loss of $111K.
Based on the recent corporate insider activity of 85 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.