Brokerages Set Tamarack Valley Energy Ltd (TSE:TVE) PT at C$5.81

Shares of Tamarack Valley Energy Ltd (TSE:TVE) have received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is C$5.81.

A number of brokerages recently commented on TVE. BMO Capital Markets upped their price target on shares of Tamarack Valley Energy from C$6.00 to C$6.50 in a research note on Thursday, February 13th. National Bankshares dropped their target price on Tamarack Valley Energy from C$7.00 to C$6.75 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. CIBC lifted their price target on Tamarack Valley Energy from C$5.75 to C$6.50 in a research report on Friday, January 17th. Desjardins cut Tamarack Valley Energy from a “buy” rating to a “hold” rating and dropped their price objective for the stock from C$6.00 to C$5.25 in a report on Wednesday, March 19th. Finally, Canaccord Genuity Group raised their target price on Tamarack Valley Energy from C$5.00 to C$5.75 in a research note on Thursday, December 5th.

Tamarack Valley Energy Stock Down 1.4 %

TVE stock opened at C$4.34 on Wednesday. Tamarack Valley Energy has a fifty-two week low of C$3.44 and a fifty-two week high of C$5.05. The stock has a fifty day moving average of C$4.37 and a 200-day moving average of C$4.33. The company has a market capitalization of C$2.29 billion, a price-to-earnings ratio of 11.11 and a beta of 2.49. The company has a debt-to-equity ratio of 34.61, a quick ratio of 0.80 and a current ratio of 0.73.

Tamarack Valley Energy Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Friday, March 14th. Investors of record on Friday, March 14th were paid a $0.0127 dividend. This represents a $0.15 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend was Friday, February 28th. Tamarack Valley Energy’s dividend payout ratio is currently 38.41%.

Insider Buying and Selling at Tamarack Valley Energy

In other news, Senior Officer Brian Leslie Schmidt purchased 84,734 shares of the stock in a transaction on Monday, March 3rd. The shares were acquired at an average price of C$4.55 per share, for a total transaction of C$385,539.70. 1.32% of the stock is currently owned by company insiders.

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.