Tamarack Valley Energy (TSE:TVE) Price Target Raised to C$6.00

Tamarack Valley Energy (TSE:TVE - Free Report) had its price objective hoisted by BMO Capital Markets from C$5.50 to C$6.00 in a research note released on Friday,BayStreet.CA reports.

A number of other equities analysts have also commented on the company. Acumen Capital raised their price target on Tamarack Valley Energy from C$5.50 to C$6.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Royal Bank of Canada boosted their price target on 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. CIBC upped their price objective on Tamarack Valley Energy from C$5.50 to C$5.75 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Canaccord Genuity Group increased their price objective on shares of Tamarack Valley Energy from C$5.00 to C$5.75 in a report on Thursday, December 5th. Finally, National Bankshares increased their price objective on shares of Tamarack Valley Energy from C$6.75 to C$7.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of C$5.50.

Tamarack Valley Energy Price Performance

TVE traded down C$0.03 on Friday, reaching C$4.39. The stock had a trading volume of 1,950,398 shares, compared to its average volume of 2,432,413. Tamarack Valley Energy has a fifty-two week low of C$2.90 and a fifty-two week high of C$4.70. 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 firm has a 50-day moving average of C$4.28 and a 200-day moving average of C$3.98. The company has a market capitalization of C$2.39 billion, a price-to-earnings ratio of 19.09 and a beta of 2.49.

Tamarack Valley Energy Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 16th will be given a $0.0127 dividend. This represents a $0.15 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date is Friday, November 29th. This is a positive change from Tamarack Valley Energy's previous monthly dividend of $0.01. Tamarack Valley Energy's dividend payout ratio is currently 65.22%.

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.