Analysts Set Tamarack Valley Energy Ltd (TSE:TVE) Target Price at C$5.23

Shares of Tamarack Valley Energy Ltd (TSE:TVE - Get Free Report) have been given an average rating of "Moderate Buy" by the ten research firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is C$5.23.

A number of brokerages have recently commented on TVE. CIBC raised their price target on Tamarack Valley Energy from C$5.50 to C$5.75 and gave the company an "outperform" rating in a report on Friday, November 1st. BMO Capital Markets raised Tamarack Valley Energy from a "market perform" rating to an "outperform" rating in a research note on Friday, October 4th. Royal Bank of Canada lifted their price target on shares of Tamarack Valley Energy from C$4.50 to C$5.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Raymond James upgraded Tamarack Valley Energy to a "hold" rating in a research report on Thursday, October 17th. Finally, National Bankshares boosted their price objective on Tamarack Valley Energy from C$6.75 to C$7.00 and gave the stock an "outperform" rating in a report on Friday, November 1st.

Insider Activity

In other news, Senior Officer Christine Ezinga bought 13,000 shares of the business's stock in a transaction on Friday, August 23rd. The stock was purchased at an average price of C$3.99 per share, with a total value of C$51,870.00. 1.32% of the stock is currently owned by corporate insiders.

Tamarack Valley Energy Stock Performance

Shares of TSE TVE opened at C$4.43 on Thursday. Tamarack Valley Energy has a 12-month low of C$2.76 and a 12-month high of C$4.58. The company has a current ratio of 0.90, a quick ratio of 0.80 and a debt-to-equity ratio of 41.72. The company has a market cap of C$2.41 billion, a PE ratio of 19.26 and a beta of 2.49. The stock has a 50 day simple moving average of C$4.09 and a 200-day simple moving average of C$3.89.

Tamarack Valley Energy Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 16th will be given a $0.0127 dividend. This is an increase from Tamarack Valley Energy's previous monthly dividend of $0.01. The ex-dividend date is Friday, November 29th. This represents a $0.15 dividend on an annualized basis and a yield of 3.44%. Tamarack Valley Energy's dividend payout ratio is presently 65.22%.

Tamarack Valley Energy Company Profile

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.