Tamarack Valley Energy Ltd (TSE:TVE) Receives Average Rating of “Buy” from Brokerages

Shares of Tamarack Valley Energy Ltd (TSE:TVE) have earned an average rating of “Buy” from the six brokerages that are currently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a buy rating. The average 12 month price target among brokers that have covered the stock in the last year is C$5.72.

TVE has been the subject of several recent research reports. CIBC reduced their price target on Tamarack Valley Energy from C$6.50 to C$5.50 in a research report on Thursday, April 10th. BMO Capital Markets raised their target price on Tamarack Valley Energy from C$6.00 to C$6.50 in a research note on Thursday, February 13th. Raymond James upgraded Tamarack Valley Energy from a “market perform” rating to an “outperform” rating and upped their price target for the company from C$4.50 to C$5.00 in a research report on Thursday, May 8th. Finally, Desjardins raised shares of Tamarack Valley Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, May 12th.

Tamarack Valley Energy Trading Up 1.1%

Shares of TVE stock opened at C$4.41 on Thursday. The company’s fifty day simple moving average is C$3.96 and its two-hundred day simple moving average is C$4.30. The company has a debt-to-equity ratio of 34.61, a current ratio of 0.73 and a quick ratio of 0.80. Tamarack Valley Energy has a 1 year low of C$3.10 and a 1 year high of C$5.05. The stock has a market capitalization of C$2.33 billion, a price-to-earnings ratio of 11.29 and a beta of 2.49.

Tamarack Valley Energy Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 15th were issued a dividend of $0.0127 per share. This represents a $0.15 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend was Wednesday, April 30th. Tamarack Valley Energy’s payout ratio is 38.41%.

Insider Activity at Tamarack Valley Energy

In related news, Senior Officer Brian Leslie Schmidt bought 84,734 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was bought at an average cost of C$4.55 per share, for a total transaction of C$385,539.70. Also, Senior Officer Steven Buytels purchased 8,065 shares of the stock in a transaction on Friday, April 4th. The shares were purchased at an average price of C$3.66 per share, for a total transaction of C$29,517.90. Insiders have purchased 308,884 shares of company stock valued at $1,252,849 over the last three months. 1.32% of the stock is owned by corporate insiders.

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.