Tamarack Valley Energy (TNEYF) Receives a Buy from RBC Capital

In a report issued on April 30, Luke Davis from RBC Capital maintained a Buy rating on Tamarack Valley Energy (TNEYF), with a price target of C$3.50. The company’s shares closed last Monday at $2.23.

According to TipRanks.com, Davis is a 5-star analyst with an average return of 36.6% and a 61.5% success rate. Davis covers the Utilities sector, focusing on stocks such as PrairieSky Royalty, Whitecap Resources, and Athabasca Oil.

Tamarack Valley Energy has an analyst consensus of Strong Buy, with a price target consensus of $2.58, which is a 23.1% upside from current levels. In a report released yesterday, National Bank also initiated coverage with a Buy rating on the stock with a C$4.00 price target.

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The company has a one-year high of $2.12 and a one-year low of $0.50. Currently, Tamarack Valley Energy has an average volume of 33.37K.

Based on the recent corporate insider activity of 81 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

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