Tamarack Valley Energy Ltd (TSE:TVE) Receives C$5.72 Consensus Target Price from Analysts

Shares of Tamarack Valley Energy Ltd (TSE:TVE) have been given a consensus rating of “Buy” by the six ratings firms that are covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy rating. The average 1-year price target among brokers that have issued ratings on the stock in the last year is C$5.72.

Several equities research analysts have recently commented on the company. Raymond James upgraded Tamarack Valley Energy from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from C$4.50 to C$5.00 in a research note on Thursday, May 8th. BMO Capital Markets lifted their price target on shares of Tamarack Valley Energy from C$6.00 to C$6.50 in a research note on Thursday, February 13th. Desjardins raised shares of Tamarack Valley Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, May 12th. Finally, CIBC reduced their price target on Tamarack Valley Energy from C$6.50 to C$5.50 in a research report on Thursday, April 10th.

Tamarack Valley Energy Stock Up 1.6%

TVE stock opened at C$4.38 on Thursday. The company has a debt-to-equity ratio of 34.61, a quick ratio of 0.80 and a current ratio of 0.73. The business’s 50 day moving average price is C$3.95 and its two-hundred day moving average price is C$4.29. Tamarack Valley Energy has a fifty-two week low of C$3.10 and a fifty-two week high of C$5.05. The company has a market capitalization of C$2.31 billion, a price-to-earnings ratio of 11.21 and a beta of 2.49.

Tamarack Valley Energy Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 15th were given a $0.0127 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date was Wednesday, April 30th. Tamarack Valley Energy’s dividend payout ratio is presently 38.41%.

Insider Buying and Selling

In other news, Senior Officer Kevin James Johnston acquired 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 9th. The shares were acquired at an average price of C$3.29 per share, with a total value of C$49,350.00. Also, Senior Officer Brian Leslie Schmidt bought 84,734 shares of the stock in a transaction on Monday, March 3rd. The shares were bought at an average cost of C$4.55 per share, for a total transaction of C$385,539.70. Over the last quarter, insiders purchased 308,884 shares of company stock valued at $1,252,849. Insiders own 1.32% of the company’s stock.

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.