Canaccord Genuity Group Boosts Tamarack Valley Energy (TSE:TVE) Price Target to C$4.75

Tamarack Valley Energy (TSE:TVE) had its price objective increased by Canaccord Genuity Group from C$4.25 to C$4.75 in a research report report published on Wednesday, BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

A number of other research firms have also weighed in on TVE. Raymond James dropped their price objective on shares of Tamarack Valley Energy from C$5.00 to C$4.00 and set an outperform rating on the stock in a research note on Friday, January 19th. ATB Capital dropped their price objective on shares of Tamarack Valley Energy from C$6.00 to C$5.50 and set an outperform rating on the stock in a research note on Thursday, February 29th. BMO Capital Markets set a C$4.00 price objective on shares of Tamarack Valley Energy and gave the company a market perform rating in a research note on Thursday, March 21st. Desjardins raised their price objective on shares of Tamarack Valley Energy from C$4.50 to C$4.75 and gave the company a buy rating in a research note on Friday, March 22nd. Finally, National Bankshares raised their price objective on shares of Tamarack Valley Energy from C$6.00 to C$6.50 and gave the company an outperform rating in a research note on Wednesday, January 10th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of C$4.85.

Tamarack Valley Energy Price Performance

Shares of TSE TVE opened at C$3.77 on Wednesday. The firm has a market cap of C$2.05 billion, a PE ratio of 22.18 and a beta of 2.59. Tamarack Valley Energy has a 12-month low of C$2.76 and a 12-month high of C$4.34. The company’s fifty day simple moving average is C$3.63 and its 200 day simple moving average is C$3.51. The company has a quick ratio of 0.80, a current ratio of 0.52 and a debt-to-equity ratio of 43.39.

Tamarack Valley Energy (TSE:TVE) last issued its earnings results on Wednesday, February 28th. The company reported C$0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.06 by C$0.04. The business had revenue of C$418.86 million for the quarter. Tamarack Valley Energy had a net margin of 6.70% and a return on equity of 4.34%. As a group, sell-side analysts forecast that Tamarack Valley Energy will post 0.2799189 earnings per share for the current fiscal year.

Tamarack Valley Energy Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be issued a dividend of $0.0125 per share. The ex-dividend date is Monday, April 29th. This represents a $0.15 dividend on an annualized basis and a yield of 3.98%. Tamarack Valley Energy’s dividend payout ratio (DPR) is presently 88.24%.

Insider Buying and Selling

In related news, Senior Officer Christine Ezinga acquired 21,150 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was acquired at an average price of C$3.74 per share, for a total transaction of C$79,012.17. In related news, Senior Officer Christine Ezinga acquired 21,150 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was acquired at an average price of C$3.74 per share, for a total transaction of C$79,012.17. Also, Senior Officer Scott Shimek acquired 8,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were bought at an average price of C$4.08 per share, with a total value of C$34,680.00. Over the last 90 days, insiders purchased 47,718 shares of company stock worth $178,867. Insiders own 1.15% of the company’s stock.

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.