Brokerages Set Tamarack Valley Energy Ltd (TSE:TVE) Target Price at C$4.93

Tamarack Valley Energy Ltd (TSE:TVE) has been given a consensus recommendation of “Moderate Buy” by the nine ratings firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is C$4.93.

TVE has been the topic of a number of research reports. Raymond James lowered 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. CIBC lifted their price objective on Tamarack Valley Energy from C$4.50 to C$5.25 and gave the stock an “outperform” rating in a research report on Monday, April 22nd. Royal Bank of Canada raised their price target 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. BMO Capital Markets set a C$4.00 price objective on Tamarack Valley Energy and gave the company a “market perform” rating in a research report on Thursday, March 21st. Finally, ATB Capital reduced their price objective 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.

Insider Buying and Selling

In other Tamarack Valley Energy news, Senior Officer Scott Shimek bought 8,500 shares of Tamarack Valley Energy stock in a transaction that occurred on Wednesday, April 3rd. The shares were purchased at an average cost of C$4.08 per share, for a total transaction of C$34,680.00. In other news, Senior Officer Scott Shimek purchased 8,500 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was bought at an average cost of C$4.08 per share, for a total transaction of C$34,680.00. Also, Senior Officer Brian Leslie Schmidt purchased 8,673 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were purchased at an average price of C$3.55 per share, with a total value of C$30,789.15. Over the last ninety days, insiders have acquired 47,718 shares of company stock worth $178,867. 1.15% of the stock is owned by company insiders.

Tamarack Valley Energy Price Performance

Shares of TSE TVE opened at C$3.71 on Friday. The company’s fifty day moving average is C$3.78 and its two-hundred day moving average is C$3.50. The company has a debt-to-equity ratio of 43.39, a quick ratio of 0.80 and a current ratio of 0.52. The firm has a market capitalization of C$2.02 billion, a P/E ratio of 21.82 and a beta of 2.59. Tamarack Valley Energy has a one year low of C$2.76 and a one year high of C$4.34.

Tamarack Valley Energy (TSE:TVE) last announced its quarterly earnings results on Wednesday, February 28th. The company reported C$0.10 EPS for the quarter, topping 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 for the quarter. Analysts forecast that Tamarack Valley Energy will post 0.2799189 EPS for the current fiscal year.

Tamarack Valley Energy Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be given a dividend of $0.0125 per share. The ex-dividend date is Monday, April 29th. This represents a $0.15 annualized dividend and a yield of 4.04%. Tamarack Valley Energy’s dividend payout ratio (DPR) is presently 88.24%.

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.