BMO Capital Markets Forecasts Strong Price Appreciation for Tamarack Valley Energy (TSE:TVE) Stock

Tamarack Valley Energy (TSE:TVE) had its price objective lifted by BMO Capital Markets from C$5.50 to C$6.00 in a report issued on Friday morning,BayStreet.CA reports.

Several other equities analysts have also commented on TVE. Raymond James upgraded shares of Tamarack Valley Energy to a “hold” rating in a research report on Thursday, October 17th. National Bankshares upped their target price on shares of Tamarack Valley Energy from C$6.75 to C$7.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Royal Bank of Canada lifted their price target on Tamarack Valley Energy from C$4.50 to C$5.00 and gave the company an “outperform” rating in a report on Friday, November 1st. CIBC increased their price objective on Tamarack Valley Energy from C$5.50 to C$5.75 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Acumen Capital lifted their target price on Tamarack Valley Energy from C$5.50 to C$6.00 and gave the company a “buy” rating in a research note on Friday, November 1st. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$5.50.

Tamarack Valley Energy Trading Down 0.7 %

TSE:TVE opened at C$4.39 on Friday. The firm has a market capitalization of C$2.39 billion, a P/E ratio of 19.09 and a beta of 2.49. The business has a 50 day simple moving average of C$4.28 and a 200 day simple moving average of C$3.99. The company has a debt-to-equity ratio of 41.72, a current ratio of 0.90 and a quick ratio of 0.80. Tamarack Valley Energy has a 12-month low of C$2.90 and a 12-month high of C$4.70.

Tamarack Valley Energy Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 16th will be issued a $0.0127 dividend. This represents a $0.15 dividend on an annualized basis and a yield of 3.47%. This is an increase from Tamarack Valley Energy’s previous monthly dividend of $0.01. The ex-dividend date is Friday, November 29th. Tamarack Valley Energy’s dividend payout ratio is presently 65.22%.

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.