BMO Capital Markets Issues Positive Forecast for Tamarack Valley Energy (TSE:TVE) Stock Price

Tamarack Valley Energy (TSE:TVE) had its price objective increased by BMO Capital Markets from C$9.00 to C$11.00 in a research note issued to investors on Friday morning,BayStreet.CA reports.

Several other equities analysts have also recently weighed in on TVE. ATB Capital increased their price objective on shares of Tamarack Valley Energy from C$7.00 to C$7.25 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Royal Bank Of Canada upped their target price on shares of Tamarack Valley Energy from C$6.00 to C$7.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Canaccord Genuity Group downgraded shares of Tamarack Valley Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 22nd. National Bankshares lifted their price target on shares of Tamarack Valley Energy from C$7.50 to C$8.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Finally, CIBC boosted their price objective on shares of Tamarack Valley Energy from C$7.25 to C$8.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$7.58.

Tamarack Valley Energy Stock Performance

Shares of TVE stock traded up C$0.25 on Friday, reaching C$7.60. The stock had a trading volume of 3,017,096 shares, compared to its average volume of 1,965,158. The company has a debt-to-equity ratio of 34.61, a quick ratio of 0.80 and a current ratio of 0.73. Tamarack Valley Energy has a 1 year low of C$3.10 and a 1 year high of C$7.63. The stock has a market cap of C$3.74 billion, a P/E ratio of -44.71 and a beta of 0.79. The company has a 50 day simple moving average of C$6.33 and a 200 day simple moving average of C$5.42.

Tamarack Valley Energy (TSE:TVE) last posted its quarterly earnings data on Friday, October 31st. The company reported C($0.50) EPS for the quarter. The firm had revenue of C$406.32 million for the quarter. Tamarack Valley Energy had a net margin of 13.48% and a return on equity of 9.89%. Equities research analysts expect that Tamarack Valley Energy will post 0.1386527 EPS for the current year.

Tamarack Valley Energy Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, November 14th were given a dividend of $0.0127 per share. The ex-dividend date was Friday, October 31st. This represents a c) annualized dividend and a dividend yield of 2.0%. Tamarack Valley Energy’s dividend payout ratio (DPR) is presently -89.85%.

Insider Activity at Tamarack Valley Energy

In related news, Director Shannon Joseph bought 16,129 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The stock was purchased at an average price of C$6.32 per share, for a total transaction of C$101,935.28. Following the completion of the transaction, the director owned 38,328 shares in the company, valued at C$242,232.96. The trade was a 72.66% increase in their ownership of the stock. Company insiders own 1.32% of the company’s stock.

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.