Tamarack Valley Energy (TSE:TVE) Downgraded to "Hold" Rating by Desjardins

Desjardins cut shares of Tamarack Valley Energy (TSE:TVE - Free Report) from a buy rating to a hold rating in a research report released on Wednesday, MarketBeat Ratings reports. Desjardins currently has C$5.25 price target on the stock, down from their previous price target of C$6.00.

TVE has been the topic of several other reports. CIBC upped their price objective on shares of Tamarack Valley Energy from C$5.75 to C$6.50 in a research report on Friday, January 17th. Canaccord Genuity Group increased their price target on shares of Tamarack Valley Energy from C$5.00 to C$5.75 in a report on Thursday, December 5th. National Bankshares lowered their price objective 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, BMO Capital Markets increased their target price on Tamarack Valley Energy from C$6.00 to C$6.50 in a research note on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Tamarack Valley Energy has a consensus rating of "Moderate Buy" and an average price target of C$5.81.

Tamarack Valley Energy Price Performance

TSE TVE traded up C$0.03 during trading on Wednesday, reaching C$4.33. The company's stock had a trading volume of 1,574,687 shares, compared to its average volume of 2,263,499. The firm has a fifty day moving average of C$4.41 and a 200 day moving average of C$4.31. Tamarack Valley Energy has a one year low of C$3.44 and a one year high of C$5.05. The stock has a market capitalization of C$2.29 billion, a PE ratio of 11.09 and a beta of 2.49. The company has a debt-to-equity ratio of 34.61, a current ratio of 0.73 and a quick ratio of 0.80.

Remove Ads

Tamarack Valley Energy Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, March 14th were given a dividend of $0.0127 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.15 annualized dividend and a yield of 3.52%. Tamarack Valley Energy's payout ratio is 38.41%.

Insider Transactions at Tamarack Valley Energy

In other news, Senior Officer Brian Leslie Schmidt bought 84,734 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average cost 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.

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.