Tamarack Valley Energy (TSE:TVE) Price Target Raised to C$9.00

Tamarack Valley Energy (TSE:TVE) had its price target boosted by Raymond James Financial from C$7.00 to C$9.00 in a research report sent to investors on Thursday,BayStreet.CA reports. They currently have an outperform rating on the stock.

TVE has been the topic of a number of other reports. Acumen Capital upped their price target on Tamarack Valley Energy from C$7.25 to C$7.50 and gave the stock a “buy” rating in a research note on Thursday, October 30th. National Bankshares raised their price objective on Tamarack Valley Energy from C$8.00 to C$9.00 and gave the company an “outperform” rating in a research note on Thursday. CIBC upped their target price on Tamarack Valley Energy from C$8.00 to C$9.00 and gave the stock an “outperform” rating in a research report on Thursday. ATB Capital increased their target price on Tamarack Valley Energy from C$7.25 to C$9.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Canaccord Genuity Group lifted their price target on shares of Tamarack Valley Energy from C$6.75 to C$8.00 in a research report on Thursday. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$8.92.

Tamarack Valley Energy Stock Down 0.6%

Shares of TSE TVE opened at C$8.07 on Thursday. The company has a quick ratio of 0.80, a current ratio of 0.73 and a debt-to-equity ratio of 34.61. The firm has a market cap of C$3.97 billion, a PE ratio of -47.47 and a beta of 0.95. The company’s fifty day simple moving average is C$6.69 and its 200 day simple moving average is C$5.69. Tamarack Valley Energy has a 12-month low of C$3.10 and a 12-month high of C$8.32.

Tamarack Valley Energy (TSE:TVE) last posted its quarterly earnings results on Friday, October 31st. The company reported C($0.50) earnings per share for the quarter. The company 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%. As a group, sell-side analysts forecast that Tamarack Valley Energy will post 0.1386527 earnings per share for the current fiscal year.

Tamarack Valley Energy Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, November 14th were paid a $0.0127 dividend. The ex-dividend date of this dividend was Friday, October 31st. This represents a c) annualized dividend and a dividend yield of 1.9%. Tamarack Valley Energy’s dividend payout ratio is -89.85%.

Insider Activity

In related news, Director Shannon Joseph bought 16,129 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The shares were bought at an average price of C$6.32 per share, with a total value of C$101,935.28. Following the completion of the transaction, the director directly owned 38,328 shares in the company, valued at approximately C$242,232.96. This represents a 72.66% increase in their ownership of the stock. 1.32% 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.