Tamarack Valley Energy (TSE:TVE) Price Target Raised to C$17.25

Tamarack Valley Energy (TSE:TVE) had its target price raised by ATB Cormark Capital Markets from C$16.00 to C$17.25 in a research report released on Thursday,BayStreet reports. They currently have an outperform rating on the stock.

Other equities analysts have also issued reports about the stock. Royal Bank Of Canada upped their price objective on shares of Tamarack Valley Energy from C$15.00 to C$17.00 and gave the stock an “outperform” rating in a report on Wednesday. Scotiabank set a C$17.00 target price on shares of Tamarack Valley Energy and gave the company a “sector outperform” rating in a report on Wednesday, September 30th. Desjardins lifted their target price on shares of Tamarack Valley Energy from C$16.00 to C$16.50 and gave the company a “buy” rating in a report on Wednesday, September 9th. Raymond James Financial boosted their target price on Tamarack Valley Energy from C$16.00 to C$17.00 and gave the company an “outperform” rating in a research report on Wednesday, September 9th. Finally, Canaccord Genuity Group upped their price target on Tamarack Valley Energy from C$15.00 to C$16.00 and gave the stock a “buy” rating in a research note on Wednesday, September 9th. Eleven analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of C$15.08.

Tamarack Valley Energy Trading Up 2.8%

TSE TVE opened at C$15.06 on Thursday. The company has a debt-to-equity ratio of 18.26, a current ratio of 2.30 and a quick ratio of 0.80. The stock has a market capitalization of C$7.13 billion, a P/E ratio of 215.14 and a beta of 0.41. The firm’s 50-day moving average is C$13.69 and its two-hundred day moving average is C$12.99. Tamarack Valley Energy has a 12 month low of C$6.06 and a 12 month high of C$15.15.

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. Tamarack Valley Energy had a net margin of 1.50% and a return on equity of 1.34%. The company had revenue of C$493.95 million during the quarter. On average, sell-side analysts anticipate that Tamarack Valley Energy will post 0.14 earnings per share for the current year.

Tamarack Valley Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 30th were issued a dividend of $0.05 per share. This is a positive change from Tamarack Valley Energy’s previous quarterly dividend of $0.04. The ex-dividend date was Tuesday, September 15th. This represents a $0.20 dividend on an annualized basis and a yield of 1.3%. Tamarack Valley Energy’s dividend payout ratio (DPR) is 225.24%.

Insider Activity

In other Tamarack Valley Energy news, Director Caralyn Patricia Bennett purchased 36,568 shares of Tamarack Valley Energy stock in a transaction dated Monday, September 21st. The shares were acquired at an average price of C$13.26 per share, with a total value 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 trade represents a 27.57% increase in their ownership of the stock. Also, insider Kevin James Johnston acquired 7,500 shares of the stock in a transaction dated Thursday, September 17th. The stock was acquired at an average cost of C$13.44 per share, with a total value of C$100,800.00. Following the purchase, the insider owned 104,491 shares of the company’s stock, valued at approximately C$1,404,359.04. This trade represents a 7.73% increase in their position. Over the last ninety days, insiders acquired 44,458 shares of company stock valued at $590,957. 1.32% of the stock is currently owned by corporate 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.