Tamarack Valley Energy (TSE:TVE) Price Target Increased to C$5.25 by Analysts at CIBC

Tamarack Valley Energy (TSE:TVE) had its target price upped by CIBC from C$4.50 to C$5.25 in a report released on Monday, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

A number of other equities analysts have also recently commented on TVE. Royal Bank of Canada raised their target price on Tamarack Valley Energy from C$4.00 to C$4.25 and gave the stock an outperform rating in a report on Thursday, February 29th. Raymond James decreased their price target on Tamarack Valley Energy from C$5.00 to C$4.00 and set an outperform rating on the stock in a report on Friday, January 19th. National Bankshares raised their price target on Tamarack Valley Energy from C$6.00 to C$6.50 and gave the company an outperform rating in a report on Wednesday, January 10th. BMO Capital Markets set a C$4.00 price target on Tamarack Valley Energy and gave the company a market perform rating in a report on Thursday, March 21st. Finally, Stifel Nicolaus raised their price target on Tamarack Valley Energy from C$4.75 to C$5.00 and gave the company a buy rating in a report on Thursday, February 29th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of C$4.93.

Tamarack Valley Energy Price Performance

Shares of Tamarack Valley Energy stock opened at C$3.87 on Monday. Tamarack Valley Energy has a one year low of C$2.76 and a one year high of C$4.34. The stock’s fifty day moving average is C$3.68 and its 200 day moving average is C$3.51. The stock has a market cap of C$2.10 billion, a P/E ratio of 22.76 and a beta of 2.59. The company has a debt-to-equity ratio of 43.39, a quick ratio of 0.80 and a current ratio of 0.52.

Tamarack Valley Energy (TSE:TVE) last announced its earnings results on Wednesday, February 28th. The company reported C$0.10 EPS for the quarter, topping analysts’ consensus estimates of C$0.06 by C$0.04. Tamarack Valley Energy had a return on equity of 4.34% and a net margin of 6.70%. The company had revenue of C$418.86 million for the quarter. Sell-side analysts anticipate that Tamarack Valley Energy will post 0.2799189 earnings per share for the current year.

Tamarack Valley Energy Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be issued a $0.0125 dividend. The ex-dividend date is Monday, April 29th. This represents a $0.15 annualized dividend and a dividend yield of 3.88%. Tamarack Valley Energy’s dividend payout ratio (DPR) is 88.24%.

Insider Transactions at Tamarack Valley Energy

In related news, Senior Officer Brian Leslie Schmidt purchased 9,395 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was bought at an average price of C$3.66 per share, for a total transaction of C$34,385.70. In other Tamarack Valley Energy news, Senior Officer Brian Leslie Schmidt bought 9,395 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was acquired at an average price of C$3.66 per share, for a total transaction of C$34,385.70. Also, Senior Officer Christine Ezinga bought 21,150 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were acquired at an average price of C$3.74 per share, with a total value of C$79,012.17. Over the last three months, insiders have bought 47,718 shares of company stock valued at $178,867. 1.15% of the stock is currently owned by 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.