Tamarack Valley Energy Ltd (TSE:TVE) Receives C$5.03 Average Price Target from Analysts

Shares of Tamarack Valley Energy Ltd (TSE:TVE) have received a consensus recommendation of “Moderate Buy” from the nine brokerages that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is C$5.03.

A number of brokerages have weighed in on TVE. National Bankshares reduced their price objective on Tamarack Valley Energy from C$7.25 to C$6.75 in a research note on Friday, September 27th. CIBC upped their price target on Tamarack Valley Energy from C$5.25 to C$5.50 in a research note on Monday, July 15th. Raymond James upgraded Tamarack Valley Energy to a “hold” rating in a research note on Thursday, October 17th. Finally, BMO Capital Markets upgraded Tamarack Valley Energy from a “market perform” rating to an “outperform” rating in a research note on Friday, October 4th.

Tamarack Valley Energy Price Performance

Shares of TSE TVE opened at C$3.91 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.80 and a debt-to-equity ratio of 41.72. Tamarack Valley Energy has a twelve month low of C$2.76 and a twelve month high of C$4.34. The stock has a 50 day moving average of C$3.97 and a two-hundred day moving average of C$3.84. The stock has a market cap of C$2.13 billion, a P/E ratio of 17.00 and a beta of 2.49.

Tamarack Valley Energy (TSE:TVE) last issued its quarterly earnings data on Thursday, August 1st. The company reported C$0.17 earnings per share for the quarter. Tamarack Valley Energy had a return on equity of 5.94% and a net margin of 8.66%. The company had revenue of C$382.98 million during the quarter. On average, research analysts forecast that Tamarack Valley Energy will post 0.1386527 earnings per share for the current year.

Tamarack Valley Energy Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be issued a dividend of $0.0125 per share. This represents a $0.15 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date is Thursday, October 31st. Tamarack Valley Energy’s dividend payout ratio is presently 65.22%.

Insider Buying and Selling

In other Tamarack Valley Energy news, Senior Officer Christine Ezinga acquired 13,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were purchased at an average price of C$3.99 per share, with a total value of C$51,870.00. Insiders have acquired 28,173 shares of company stock valued at $107,945 over the last quarter. Company insiders own 1.32% of the company’s stock.

About Tamarack Valley Energy

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.