Tamarack Valley Energy (TSE:TVE) Price Target Raised to C$8.50

Tamarack Valley Energy (TSE:TVE) had its price objective hoisted by Desjardins from C$7.75 to C$8.50 in a report published on Monday,BayStreet.CA reports. They currently have a buy rating on the stock.

Other equities analysts have also recently issued research reports about the company. BMO Capital Markets lifted their target price on Tamarack Valley Energy from C$9.00 to C$11.00 in a research note on Friday, November 21st. ATB Capital boosted their price objective on shares of Tamarack Valley Energy from C$7.00 to C$7.25 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Royal Bank Of Canada upped their price objective on shares of Tamarack Valley Energy from C$6.00 to C$7.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Canaccord Genuity Group lowered shares of Tamarack Valley Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 22nd. Finally, Raymond James Financial boosted their price target on shares of Tamarack Valley Energy from C$6.50 to C$7.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$7.78.

Tamarack Valley Energy Price Performance

Shares of TSE:TVE opened at C$7.56 on Monday. The company’s fifty day moving average is C$6.43 and its two-hundred day moving average is C$5.52. The company has a quick ratio of 0.80, a current ratio of 0.73 and a debt-to-equity ratio of 34.61. Tamarack Valley Energy has a 12-month low of C$3.10 and a 12-month high of C$7.79. The company has a market cap of C$3.72 billion, a P/E ratio of -44.47 and a beta of 0.79.

Tamarack Valley Energy (TSE:TVE) last issued its earnings results on Friday, October 31st. The company reported C($0.50) EPS for the quarter. The business had revenue of C$406.32 million during the quarter. Tamarack Valley Energy had a return on equity of 9.89% and a net margin of 13.48%. Equities analysts expect that Tamarack Valley Energy will post 0.1386527 earnings per share for the current fiscal year.

Tamarack Valley Energy Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Friday, November 14th. Investors of record on Friday, November 14th were issued a $0.0127 dividend. The ex-dividend date was Friday, October 31st. This represents a c) dividend on an annualized basis and a yield of 2.0%. Tamarack Valley Energy’s dividend payout ratio is currently -89.85%.

Insider Buying and Selling

In related news, Director Shannon Joseph bought 16,129 shares of the business’s stock in a transaction on Thursday, November 6th. The shares were bought at an average cost of C$6.32 per share, for a total transaction of C$101,935.28. Following the completion of the acquisition, the director directly owned 38,328 shares in the company, valued at approximately C$242,232.96. This represents a 72.66% increase in their ownership of the stock. 1.32% of the stock is owned by 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.