Analysts Set Tamarack Valley Energy Ltd (TSE:TVE) Price Target at C$5.03

Tamarack Valley Energy Ltd (TSE:TVE - Get Free Report) has received an average rating of "Moderate Buy" from the nine ratings firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is C$5.03.

A number of research analysts have commented on TVE shares. CIBC lifted their price objective on shares of Tamarack Valley Energy from C$5.25 to C$5.50 in a research note on Monday, July 15th. BMO Capital Markets raised Tamarack Valley Energy from a "market perform" rating to an "outperform" rating in a report on Friday, October 4th. Raymond James raised Tamarack Valley Energy to a "hold" rating in a research note on Thursday, October 17th. Finally, National Bankshares lowered their target price on Tamarack Valley Energy from C$7.25 to C$6.75 in a research note on Friday, September 27th.

Insiders Place Their Bets

In other news, Senior Officer Christine Ezinga acquired 8,000 shares of the company's stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average cost of C$3.67 per share, with a total value of C$29,367.20. Over the last three months, insiders have purchased 28,173 shares of company stock worth $107,945. 1.32% of the stock is owned by company insiders.

Tamarack Valley Energy Stock Performance

TSE:TVE traded up C$0.07 during mid-day trading on Friday, reaching C$4.00. 2,901,758 shares of the stock were exchanged, compared to its average volume of 2,372,739. The stock has a market capitalization of C$2.18 billion, a P/E ratio of 17.39 and a beta of 2.49. Tamarack Valley Energy has a 1 year low of C$2.76 and a 1 year high of C$4.34. The company has a 50 day simple moving average of C$3.97 and a 200-day simple moving average of C$3.84. The company has a quick ratio of 0.80, a current ratio of 0.90 and a debt-to-equity ratio of 41.72.

Tamarack Valley Energy (TSE:TVE - Get Free Report) last announced its earnings results on Thursday, August 1st. The company reported C$0.17 earnings per share (EPS) for the quarter. Tamarack Valley Energy had a net margin of 8.66% and a return on equity of 5.94%. The business had revenue of C$382.98 million for the quarter. Analysts anticipate that Tamarack Valley Energy will post 0.1386527 earnings per share for the current fiscal year.

Tamarack Valley Energy Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be issued a dividend of $0.0125 per share. This represents a $0.15 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend is Thursday, October 31st. 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.