Brokerages Set Tamarack Valley Energy Ltd (TSE:TVE) Target Price at C$13.70

Shares of Tamarack Valley Energy Ltd (TSE:TVE) have received an average recommendation of “Buy” from the ten analysts that are covering the company, Marketbeat.com reports. Ten research analysts have rated the stock with a buy rating. The average twelve-month price objective among brokers that have covered the stock in the last year is C$13.70.

Several equities analysts have recently weighed in on the company. Roth Capital set a C$15.00 price objective on Tamarack Valley Energy and gave the company a “buy” rating in a report on Tuesday, May 19th. Canadian Imperial Bank of Commerce raised their target price on shares of Tamarack Valley Energy from C$14.25 to C$15.25 and gave the stock an “outperformer” rating in a report on Friday, May 29th. Canaccord Genuity Group raised shares of Tamarack Valley Energy from a “hold” rating to a “buy” rating and lifted their price target for the company from C$12.00 to C$15.00 in a research note on Friday, May 29th. Desjardins set a C$16.00 price target on shares of Tamarack Valley Energy and gave the company a “buy” rating in a research note on Friday, July 17th. Finally, Raymond James Financial upped their price target on shares of Tamarack Valley Energy from C$15.00 to C$16.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th.

Tamarack Valley Energy Stock Performance

TVE stock opened at C$13.80 on Wednesday. The business’s 50-day moving average price is C$13.21 and its two-hundred day moving average price is C$12.28. The company has a current ratio of 2.30, a quick ratio of 0.80 and a debt-to-equity ratio of 18.26. The firm has a market cap of C$6.56 billion, a PE ratio of 197.14 and a beta of 0.26. Tamarack Valley Energy has a 1-year low of C$5.30 and a 1-year high of C$14.11.

Tamarack Valley Energy (TSE:TVE) last announced its quarterly earnings results on Tuesday, July 28th. The company reported C$0.43 earnings per share (EPS) for the quarter. The company had revenue of C$493.95 million during the quarter. Tamarack Valley Energy had a return on equity of 1.34% and a net margin of 1.50%. As a group, research analysts forecast that Tamarack Valley Energy will post 0.1386527 earnings per share for the current year.

Tamarack Valley Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 30th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 15th. This is a boost from Tamarack Valley Energy’s previous quarterly dividend of $0.04. Tamarack Valley Energy’s dividend payout ratio (DPR) is currently 225.24%.

Insiders Place Their Bets

In other news, Director Shannon Joseph purchased 27,521 shares of the company’s stock in a transaction on Tuesday, June 16th. The shares were purchased at an average price of C$12.56 per share, with a total value of C$345,663.76. Following the purchase, the director directly owned 66,376 shares of the company’s stock, valued at C$833,682.56. This trade represents a 70.83% increase in their position. Also, Director Robert Spitzer sold 10,000 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of C$13.02, for a total value of C$130,200.00. Following the completion of the sale, the director owned 424,442 shares in the company, valued at approximately C$5,526,234.84. This trade represents a 2.30% decrease in their ownership of the stock. 1.32% of the stock is currently owned by corporate insiders.

Tamarack Valley Energy Company Profile

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.