Analysts Set Tamarack Valley Energy Ltd (TSE:TVE) PT at C$7.78

Shares of Tamarack Valley Energy Ltd (TSE:TVE) have been given a consensus recommendation of “Moderate Buy” by the eight research firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is C$7.78.

Several brokerages have issued reports on TVE. Acumen Capital boosted their target price on Tamarack Valley Energy from C$7.25 to C$7.50 and gave the company a “buy” rating in a research note on Thursday, October 30th. Desjardins boosted their price target on shares of Tamarack Valley Energy from C$7.75 to C$8.50 and gave the company a “buy” rating in a research report on Monday, November 24th. National Bankshares upped their price objective on shares of Tamarack Valley Energy from C$7.50 to C$8.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. BMO Capital Markets raised their price target on Tamarack Valley Energy from C$9.00 to C$11.00 in a research report on Friday, November 21st. Finally, Canaccord Genuity Group lowered shares of Tamarack Valley Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 22nd.

Insiders Place Their Bets

In related news, Director Shannon Joseph purchased 16,129 shares of Tamarack Valley Energy stock in a transaction that occurred on Thursday, November 6th. The shares were acquired at an average cost of C$6.32 per share, for a total transaction of C$101,935.28. Following the transaction, the director directly 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. 1.32% of the stock is owned by corporate insiders.

Tamarack Valley Energy Price Performance

Tamarack Valley Energy stock opened at C$8.06 on Monday. The company’s 50 day moving average price is C$6.61 and its two-hundred day moving average price is C$5.64. The stock has a market cap of C$3.97 billion, a P/E ratio of -47.41 and a beta of 0.79. Tamarack Valley Energy has a 52 week low of C$3.10 and a 52 week high of C$8.32. The company has a quick ratio of 0.80, a current ratio of 0.73 and a debt-to-equity ratio of 34.61.

Tamarack Valley Energy (TSE:TVE) last announced its quarterly earnings data on Friday, October 31st. The company reported C($0.50) earnings per share (EPS) for the quarter. The business had revenue of C$406.32 million during the quarter. Tamarack Valley Energy had a net margin of 13.48% and a return on equity of 9.89%. On average, equities analysts predict that Tamarack Valley Energy will post 0.1386527 earnings per share 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 issued a $0.0127 dividend. The ex-dividend date was Friday, October 31st. This represents a c) annualized dividend and a dividend yield of 1.9%. Tamarack Valley Energy’s payout ratio is currently -89.85%.

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.