Tamarack Valley Energy Ltd (TSE:TVE) Receives C$5.78 Consensus Price Target from Brokerages

Shares of Tamarack Valley Energy Ltd (TSE:TVE - Get Free Report) have earned a consensus rating of "Moderate Buy" from the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is C$5.78.

Several research analysts have recently issued reports on the company. Canaccord Genuity Group lifted their price target on Tamarack Valley Energy from C$5.00 to C$5.75 in a research note on Thursday, December 5th. BMO Capital Markets boosted their target price on shares of Tamarack Valley Energy from C$6.00 to C$6.50 in a research note on Thursday, February 13th. National Bankshares cut their target price on shares of Tamarack Valley Energy from C$7.00 to C$6.75 and set an "outperform" rating for the company in a research note on Thursday, December 19th. Finally, CIBC boosted their target price on shares of Tamarack Valley Energy from C$5.75 to C$6.50 in a research note on Friday, January 17th.

Tamarack Valley Energy Price Performance

Shares of TSE:TVE traded down C$0.04 during midday trading on Friday, hitting C$3.91. 5,206,006 shares of the stock were exchanged, compared to its average volume of 2,344,131. The stock has a market cap of C$2.06 billion, a P/E ratio of 10.01 and a beta of 2.49. The company has a current ratio of 0.73, a quick ratio of 0.80 and a debt-to-equity ratio of 34.61. Tamarack Valley Energy has a twelve month low of C$3.43 and a twelve month high of C$5.05. The company has a 50 day moving average price of C$4.58 and a 200-day moving average price of C$4.30.

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Tamarack Valley Energy Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.0127 per share. This represents a $0.15 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date of this dividend is Friday, February 28th. Tamarack Valley Energy's dividend payout ratio is currently 38.41%.

Insider Transactions at Tamarack Valley Energy

In other news, Director Marnie Smith sold 9,668 shares of the business's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of C$4.42, for a total transaction of C$42,732.56. Also, Senior Officer Brian Leslie Schmidt purchased 84,734 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was bought at an average price of C$4.55 per share, with a total value of C$385,539.70. Company 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.