Tamarack Valley Energy Ltd (TSE:TVE) Stock Has Average Target Price of C$13.93

Shares of Tamarack Valley Energy Ltd (TSE:TVE) have received an average rating of “Buy” from the eleven brokerages that are currently covering the stock, MarketBeat Ratings reports. Eleven analysts have rated the stock with a buy recommendation. The average 1 year price target among analysts that have issued ratings on the stock in the last year is C$14.19.

TVE has been the topic of several recent research reports. Raymond James Financial boosted their price objective on shares of Tamarack Valley Energy from C$16.00 to C$17.00 and gave the company an “outperform” rating in a research note on Wednesday, September 9th. Desjardins raised their price objective on Tamarack Valley Energy from C$16.00 to C$16.50 and gave the company a “buy” rating in a research note on Wednesday, September 9th. Scotiabank set a C$17.00 target price on shares of Tamarack Valley Energy and gave the stock a “sector outperform” rating in a research report on Wednesday. Jefferies Financial Group set a C$17.00 price target on Tamarack Valley Energy and gave the stock a “buy” rating in a report on Tuesday, August 18th. Finally, Canaccord Genuity Group upped their price objective on shares of Tamarack Valley Energy from C$15.00 to C$16.00 and gave the company a “buy” rating in a research note on Wednesday, September 9th.

Tamarack Valley Energy Price Performance

TVE stock opened at C$13.38 on Friday. Tamarack Valley Energy has a twelve month low of C$5.93 and a twelve month high of C$14.42. 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 company has a market capitalization of C$6.34 billion, a P/E ratio of 191.14 and a beta of 0.41. The business has a 50 day simple moving average of C$13.36 and a 200-day simple moving average of C$12.67.

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

Tamarack Valley Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 30th were given a $0.05 dividend. This is a boost from Tamarack Valley Energy’s previous quarterly dividend of $0.04. This represents a $0.20 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, September 15th. Tamarack Valley Energy’s dividend payout ratio is 225.24%.

Insiders Place Their Bets

In other Tamarack Valley Energy news, insider Kevin James Johnston purchased 7,500 shares of the business’s stock in a transaction that occurred on Thursday, September 17th. The shares were purchased at an average price of C$13.44 per share, for a total transaction of C$100,800.00. Following the completion of the acquisition, the insider owned 104,491 shares of the company’s stock, valued at approximately C$1,404,359.04. This represents a 7.73% increase in their position. Also, Director Caralyn Patricia Bennett purchased 36,568 shares of Tamarack Valley Energy stock in a transaction on Monday, September 21st. The shares were acquired at an average cost of C$13.26 per share, for a total transaction of C$484,891.68. Following the completion of the transaction, the director owned 169,192 shares of the company’s stock, valued at C$2,243,485.92. This represents a 27.57% increase in their ownership of the stock. In the last quarter, insiders acquired 44,458 shares of company stock worth $590,957. 1.32% of the stock is 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.