Tamarack Valley Energy (TSE:TVE) Upgraded by Raymond James to Hold

Raymond James upgraded shares of Tamarack Valley Energy (TSE:TVE) to a hold rating in a report published on Thursday morning, Zacks.com reports.

Other equities research analysts have also issued research reports about the company. BMO Capital Markets raised Tamarack Valley Energy from a “market perform” rating to an “outperform” rating in a research note on Friday, October 4th. CIBC boosted their target price on Tamarack Valley Energy from C$5.25 to C$5.50 in a research report on Monday, July 15th. National Bankshares dropped their price target on Tamarack Valley Energy from C$7.25 to C$6.75 in a research report on Friday, September 27th. Finally, Desjardins set a C$5.00 price objective on shares of Tamarack Valley Energy and gave the stock a “buy” rating in a research report on Tuesday, June 25th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Tamarack Valley Energy presently has an average rating of “Moderate Buy” and a consensus target price of C$5.03.

Tamarack Valley Energy Trading Down 2.3 %

TSE:TVE opened at C$3.90 on Thursday. The stock has a market capitalization of C$2.12 billion, a price-to-earnings ratio of 16.96 and a beta of 2.49. Tamarack Valley Energy has a 1 year low of C$2.76 and a 1 year high of C$4.34. The stock has a fifty day moving average price of C$3.97 and a two-hundred day moving average price of C$3.85. The company has a debt-to-equity ratio of 41.72, a quick ratio of 0.80 and a current ratio of 0.90.

Tamarack Valley Energy (TSE:TVE) last announced its quarterly earnings results on Thursday, August 1st. The company reported C$0.17 earnings per share (EPS) for the quarter. The business had revenue of C$382.98 million during the quarter. Tamarack Valley Energy had a net margin of 8.66% and a return on equity of 5.94%. As a group, sell-side analysts anticipate that Tamarack Valley Energy will post 0.1386527 earnings per share for the current fiscal year.

Tamarack Valley Energy Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be given a $0.0125 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date of this dividend is Thursday, October 31st. Tamarack Valley Energy’s dividend payout ratio is presently 65.22%.

Insider Activity at Tamarack Valley Energy

In other Tamarack Valley Energy news, Senior Officer Christine Ezinga purchased 13,000 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was bought at an average cost of C$3.99 per share, for a total transaction of C$51,870.00. Over the last 90 days, insiders have bought 28,173 shares of company stock valued at $107,945. 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.