Tamarack Valley Energy (TSE:TVE) Stock Price Up 1.1% - Should You Buy?

Tamarack Valley Energy Ltd (TSE:TVE - Get Free Report) shares were up 1.1% on Friday . The stock traded as high as C$3.82 and last traded at C$3.76. Approximately 1,711,414 shares changed hands during trading, a decline of 22% from the average daily volume of 2,188,511 shares. The stock had previously closed at C$3.72.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on TVE shares. BMO Capital Markets raised their target price on shares of Tamarack Valley Energy from C$6.00 to C$6.50 in a report on Thursday, February 13th. Desjardins downgraded Tamarack Valley Energy from a "buy" rating to a "hold" rating and dropped their price target for the stock from C$6.00 to C$5.25 in a research note on Wednesday, March 19th. Finally, CIBC cut their price objective on Tamarack Valley Energy from C$6.50 to C$5.50 in a report on Thursday, April 10th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of C$5.69.

Tamarack Valley Energy Price Performance

The firm has a 50 day moving average price of C$4.03 and a 200 day moving average price of C$4.30. The stock has a market capitalization of C$1.93 billion, a PE ratio of 9.35 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 Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 15th will be given a dividend of $0.0127 per share. The ex-dividend date is Wednesday, April 30th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 4.18%. Tamarack Valley Energy's payout ratio is currently 38.41%.

Insider Activity at Tamarack Valley Energy

In other news, Director Robert Spitzer bought 31,985 shares of the company's stock in a transaction that occurred on Thursday, April 3rd. The stock was bought at an average price of C$4.19 per share, with a total value of C$134,017.15. Also, Senior Officer Steven Buytels purchased 8,065 shares of the business's stock in a transaction on Friday, April 4th. The stock was acquired at an average price of C$3.66 per share, with a total value of C$29,517.90. In the last ninety days, insiders purchased 223,384 shares of company stock worth $900,589. 1.32% of the stock is owned by company insiders.

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.