CIBC Boosts Tamarack Valley Energy (TSE:TVE) Price Target to C$5.25

Tamarack Valley Energy (TSE:TVE) had its price objective raised by CIBC from C$4.50 to C$5.25 in a research report released on Monday morning, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Several other brokerages also recently issued reports on TVE. Raymond James reduced their price objective on Tamarack Valley Energy from C$5.00 to C$4.00 and set an outperform rating for the company in a research note on Friday, January 19th. Royal Bank of Canada upped their target price on Tamarack Valley Energy from C$4.00 to C$4.25 and gave the stock an outperform rating in a research report on Thursday, February 29th. National Bankshares upped their target price on Tamarack Valley Energy from C$6.00 to C$6.50 and gave the stock an outperform rating in a research report on Wednesday, January 10th. Desjardins upped their target price on Tamarack Valley Energy from C$4.50 to C$4.75 and gave the stock a buy rating in a research report on Friday, March 22nd. Finally, ATB Capital dropped their target price on Tamarack Valley Energy from C$6.00 to C$5.50 and set an outperform rating on the stock in a research report on Thursday, February 29th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of C$4.93.

Tamarack Valley Energy Stock Performance

Shares of Tamarack Valley Energy stock opened at C$3.87 on Monday. The company has a quick ratio of 0.80, a current ratio of 0.52 and a debt-to-equity ratio of 43.39. The firm has a market cap of C$2.10 billion, a price-to-earnings ratio of 22.76 and a beta of 2.59. The business has a fifty day simple moving average of C$3.68 and a 200-day simple moving average of C$3.51. Tamarack Valley Energy has a fifty-two week low of C$2.76 and a fifty-two week high of C$4.34.

Tamarack Valley Energy (TSE:TVE) last announced its earnings results on Wednesday, February 28th. The company reported C$0.10 EPS for the quarter, beating the consensus estimate of C$0.06 by C$0.04. Tamarack Valley Energy had a return on equity of 4.34% and a net margin of 6.70%. The business had revenue of C$418.86 million during the quarter. On average, equities analysts forecast that Tamarack Valley Energy will post 0.2799189 EPS 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. Stockholders of record on Tuesday, April 30th will be issued a dividend of $0.0125 per share. This represents a $0.15 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date of this dividend is Monday, April 29th. Tamarack Valley Energy’s dividend payout ratio is 88.24%.

Insider Buying and Selling at Tamarack Valley Energy

In other Tamarack Valley Energy news, Senior Officer Scott Shimek bought 8,500 shares of the stock in a transaction on Wednesday, April 3rd. The shares were purchased at an average price of C$4.08 per share, with a total value of C$34,680.00. In other Tamarack Valley Energy news, Senior Officer Scott Shimek bought 8,500 shares of the stock in a transaction on Wednesday, April 3rd. The shares were purchased at an average price of C$4.08 per share, with a total value of C$34,680.00. Also, Senior Officer Christine Ezinga bought 21,150 shares of the stock in a transaction on Thursday, March 21st. The stock was acquired at an average cost of C$3.74 per share, for a total transaction of C$79,012.17. Insiders have acquired 47,718 shares of company stock valued at $178,867 in the last 90 days. 1.15% of the stock is currently 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.