Brokerages Set Tamarack Valley Energy Ltd (TSE:TVE) Target Price at C$4.93

Shares of Tamarack Valley Energy Ltd (TSE:TVE) have been assigned an average recommendation of “Moderate Buy” from the nine analysts that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is C$4.95.

A number of equities research analysts have recently issued reports on the company. ATB Capital dropped their price target on Tamarack Valley Energy from C$6.00 to C$5.50 and set an “outperform” rating for the company in a research report on Thursday, February 29th. Cormark upped their price target on Tamarack Valley Energy from C$4.75 to C$5.00 in a research report on Thursday. BMO Capital Markets set a C$4.00 price target on Tamarack Valley Energy and gave the company a “market perform” rating in a research report on Thursday, March 21st. CIBC upped their price target on Tamarack Valley Energy from C$4.50 to C$5.25 and gave the company an “outperform” rating in a research report on Monday, April 22nd. Finally, Desjardins increased their price objective on Tamarack Valley Energy from C$4.50 to C$4.75 and gave the stock a “buy” rating in a research report on Friday, March 22nd.

Tamarack Valley Energy Price Performance

TSE:TVE opened at C$3.82 on Friday. The company has a current ratio of 0.52, a quick ratio of 0.80 and a debt-to-equity ratio of 43.39. The stock has a 50 day moving average of C$3.79 and a two-hundred day moving average of C$3.51. The firm has a market cap of C$2.08 billion, a P/E ratio of 22.47 and a beta of 2.59. Tamarack Valley Energy has a 12 month low of C$2.76 and a 12 month high of C$4.34.

Tamarack Valley Energy (TSE:TVE) last posted its quarterly earnings results on Wednesday, February 28th. The company reported C$0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.06 by C$0.04. The business had revenue of C$418.86 million during the quarter. Tamarack Valley Energy had a return on equity of 4.34% and a net margin of 6.70%. On average, analysts expect that Tamarack Valley Energy will post 0.2799189 earnings per share for the current fiscal year.

Tamarack Valley Energy Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be paid a dividend of $0.0125 per share. This represents a $0.15 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date of this dividend is Monday, April 29th. Tamarack Valley Energy’s dividend payout ratio (DPR) is 88.24%.

Insiders Place Their Bets

In other news, Senior Officer Scott Shimek purchased 8,500 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The shares were bought at an average cost of C$4.08 per share, for a total transaction of C$34,680.00. In other news, Senior Officer Christine Ezinga purchased 21,150 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were bought at an average cost of C$3.74 per share, for a total transaction of C$79,012.17. Also, Senior Officer Scott Shimek acquired 8,500 shares of Tamarack Valley Energy stock in a transaction dated Wednesday, April 3rd. The stock was bought at an average price of C$4.08 per share, for a total transaction of C$34,680.00. Insiders have bought 47,718 shares of company stock worth $178,867 over the last ninety days. Corporate insiders own 1.15% 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.