Brokerages Set Tamarack Valley Energy Ltd (TSE:TVE) Price Target at C$7.36

Tamarack Valley Energy Ltd (TSE:TVE) has been given a consensus rating of “Moderate Buy” by the eight brokerages that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is C$7.36.

Several research analysts recently weighed in on the stock. 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. Royal Bank Of Canada raised their price target on shares of Tamarack Valley Energy from C$6.00 to C$7.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. CIBC upped their price target on 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. Raymond James Financial increased their price target on Tamarack Valley Energy from C$6.50 to C$7.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Finally, ATB Capital boosted their price objective on 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.

Tamarack Valley Energy Price Performance

Tamarack Valley Energy stock opened at C$6.59 on Thursday. The stock has a market capitalization of C$3.24 billion, a P/E ratio of -38.76 and a beta of 0.79. The company’s fifty day moving average price is C$6.00 and its 200 day moving average price is C$5.19. 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$6.60.

Tamarack Valley Energy Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, November 14th will be given a dividend of $0.0127 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a c) annualized dividend and a dividend yield of 2.3%. Tamarack Valley Energy’s payout ratio is presently -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.