Tamarack Valley Energy Ltd (TSE:TVE) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Tamarack Valley Energy Ltd (TSE:TVE) has been given a consensus rating of “Moderate Buy” by the ten ratings firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is C$5.48.

Several equities analysts have recently weighed in on TVE shares. Acumen Capital raised their price objective on shares of Tamarack Valley Energy from C$5.50 to C$6.00 and gave the company a “buy” rating in a research report on Friday, November 1st. National Bankshares decreased their price target on shares of Tamarack Valley Energy from C$7.00 to C$6.75 and set an “outperform” rating on the stock in a research report on Thursday. BMO Capital Markets upped their price target on Tamarack Valley Energy from C$5.50 to C$6.00 in a report on Friday, December 13th. CIBC raised their price objective on Tamarack Valley Energy from C$5.50 to C$5.75 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Canaccord Genuity Group boosted their target price on Tamarack Valley Energy from C$5.00 to C$5.75 in a research report on Thursday, December 5th.

Insider Activity

In other news, Director Marnie Smith sold 9,668 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of C$4.42, for a total transaction of C$42,732.56. 1.32% of the stock is owned by corporate insiders.

Tamarack Valley Energy Stock Performance

TVE opened at C$4.38 on Monday. The company has a quick ratio of 0.80, a current ratio of 0.90 and a debt-to-equity ratio of 41.72. The company has a market cap of C$2.38 billion, a P/E ratio of 19.04 and a beta of 2.49. The stock has a fifty day moving average price of C$4.29. Tamarack Valley Energy has a one year low of C$2.90 and a one year high of C$4.70.

Tamarack Valley Energy Increases Dividend

The company also recently announced a monthly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 16th were given a $0.0127 dividend. This is a positive change from Tamarack Valley Energy’s previous monthly dividend of $0.01. This represents a $0.15 annualized dividend and a yield of 3.48%. The ex-dividend date was Friday, November 29th. Tamarack Valley Energy’s dividend payout ratio is presently 65.22%.

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.