Brokerages Set Tamarack Valley Energy Ltd (TSE:TVE) PT at C$5.81

Tamarack Valley Energy Ltd (TSE:TVE - Get Free Report) has earned an average rating of "Moderate Buy" from the eight research firms that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is C$5.81.

Several equities research analysts have recently issued reports on TVE shares. CIBC raised their price objective on shares of Tamarack Valley Energy from C$5.75 to C$6.50 in a research note on Friday, January 17th. Desjardins downgraded shares of Tamarack Valley Energy from a "buy" rating to a "hold" rating and decreased their price target for the stock from C$6.00 to C$5.25 in a research note on Wednesday, March 19th. BMO Capital Markets increased their price objective on shares of Tamarack Valley Energy from C$6.00 to C$6.50 in a research note on Thursday, February 13th. National Bankshares decreased their target price on shares of Tamarack Valley Energy from C$7.00 to C$6.75 and set an "outperform" rating on the stock in a research report on Thursday, December 19th. Finally, Canaccord Genuity Group increased their price target on shares of Tamarack Valley Energy from C$5.00 to C$5.75 in a research report on Thursday, December 5th.

Tamarack Valley Energy Stock Down 1.4 %

Shares of TVE stock traded down C$0.06 during trading on Wednesday, hitting C$4.34. 990,825 shares of the company were exchanged, compared to its average volume of 2,183,069. The business's 50-day simple moving average is C$4.37 and its 200 day simple moving average is C$4.33. Tamarack Valley Energy has a twelve month low of C$3.44 and a twelve month high of C$5.05. The firm has a market capitalization of C$2.29 billion, a price-to-earnings ratio of 11.11 and a beta of 2.49. The company has a debt-to-equity ratio of 34.61, a quick ratio of 0.80 and a current ratio of 0.73.

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Tamarack Valley Energy Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, March 14th were issued a $0.0127 dividend. This represents a $0.15 annualized dividend and a dividend yield of 3.51%. The ex-dividend date was Friday, February 28th. Tamarack Valley Energy's payout ratio is currently 38.41%.

Insider Activity at Tamarack Valley Energy

In related news, Senior Officer Brian Leslie Schmidt purchased 84,734 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were acquired at an average cost of C$4.55 per share, with a total value of C$385,539.70. Insiders own 1.32% 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.