Tamarack Valley Energy (TNEYF) Received its Third Buy in a Row

After National Bank and CIBC gave Tamarack Valley Energy (Other OTC: TNEYF) a Buy rating last month, the company received another Buy, this time from Raymond James. Analyst Jeremy Mccrea maintained a Buy rating on Tamarack Valley Energy today and set a price target of C$5.75. The company’s shares closed last Friday at $3.68, close to its 52-week high of $3.74.

According to TipRanks.com, Mccrea is a 5-star analyst with an average return of 14.2% and a 53.0% success rate. Mccrea covers the Utilities sector, focusing on stocks such as Crescent Point Energy, Headwater Exploration, and Paramount Resources.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Tamarack Valley Energy with a $4.49 average price target, a 21.7% upside from current levels. In a report issued on January 10, RBC Capital also maintained a Buy rating on the stock with a C$5.00 price target.

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Tamarack Valley Energy’s market cap is currently $1.49B and has a P/E ratio of 6.78.

Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling 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.

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