Brokerages Set Tamarack Valley Energy Ltd (TSE:TVE) Price Target at C$13.38

Tamarack Valley Energy Ltd (TSE:TVE) has received a consensus rating of “Buy” from the nine ratings firms that are presently covering the stock, Marketbeat reports. Nine research analysts have rated the stock with a buy rating. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is C$13.38.

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

Tamarack Valley Energy Stock Performance

TSE TVE opened at C$13.06 on Friday. The firm has a market cap of C$6.20 billion, a P/E ratio of 186.57 and a beta of 0.32. Tamarack Valley Energy has a 52-week low of C$5.18 and a 52-week high of C$14.03. The business’s 50-day moving average price is C$12.92 and its 200 day moving average price is C$11.72. The company has a quick ratio of 0.80, a current ratio of 2.30 and a debt-to-equity ratio of 18.26.

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 company had revenue of C$493.95 million for the quarter. Tamarack Valley Energy had a return on equity of 1.34% and a net margin of 1.50%. On average, equities research analysts expect that Tamarack Valley Energy will post 0.1386527 earnings per share for the current year.

Tamarack Valley Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were given a $0.04 dividend. The ex-dividend date was Monday, June 15th. This represents a $0.16 dividend on an annualized basis and a yield of 1.2%. Tamarack Valley Energy’s dividend payout ratio (DPR) is presently 225.24%.

Insider Buying and Selling at Tamarack Valley Energy

In other Tamarack Valley Energy news, Director Rene Amirault bought 78,500 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was acquired at an average cost of C$13.09 per share, with a total value of C$1,027,565.00. Following the purchase, the director owned 454,602 shares in the company, valued at approximately C$5,950,740.18. This represents a 20.87% increase in their position. Also, Director Shannon Joseph bought 27,521 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were acquired at an average cost of C$12.56 per share, with a total value of C$345,663.76. Following the completion of the purchase, the director owned 66,376 shares in the company, valued at approximately C$833,682.56. This represents a 70.83% increase in their position. 1.32% of the stock is 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.