Tamarack Valley Energy (TSE:TVE) Price Target Raised to C$5.50

Tamarack Valley Energy (TSE:TVE) had its target price boosted by CIBC from C$5.25 to C$5.50 in a research report report published on Monday morning, BayStreet.CA reports.

A number of other equities analysts have also recently commented on TVE. Stifel Nicolaus boosted their price target on Tamarack Valley Energy from C$5.25 to C$5.50 in a report on Thursday, May 9th. Cormark upped their target price on Tamarack Valley Energy from C$4.75 to C$5.00 in a report on Thursday, May 9th. Canaccord Genuity Group upped their target price on Tamarack Valley Energy from C$4.25 to C$4.75 and gave the stock a buy rating in a report on Wednesday, April 17th. BMO Capital Markets set a C$4.00 target price on Tamarack Valley Energy and gave the stock a market perform rating in a report on Thursday, March 21st. Finally, Desjardins set a C$5.00 target price on Tamarack Valley Energy and gave the stock a buy rating in a report on Tuesday, June 25th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Tamarack Valley Energy currently has a consensus rating of Moderate Buy and an average price target of C$5.00.

Tamarack Valley Energy Price Performance

Tamarack Valley Energy stock opened at C$3.89 on Monday. The company has a debt-to-equity ratio of 45.81, a quick ratio of 0.80 and a current ratio of 0.67. Tamarack Valley Energy has a 52 week low of C$2.76 and a 52 week high of C$4.34. The stock has a market capitalization of C$2.15 billion, a P/E ratio of 35.36 and a beta of 2.59. The stock has a fifty day moving average of C$3.69 and a 200-day moving average of C$3.55.

Tamarack Valley Energy (TSE:TVE) last posted its quarterly earnings results on Wednesday, May 8th. The company reported C($0.06) EPS for the quarter, missing analysts’ consensus estimates of C$0.04 by C($0.10). Tamarack Valley Energy had a return on equity of 2.78% and a net margin of 4.16%. The business had revenue of C$393.34 million for the quarter. On average, sell-side analysts expect that Tamarack Valley Energy will post 0.1714964 earnings per share for the current fiscal year.

Tamarack Valley Energy Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be given a $0.013 dividend. The ex-dividend date is Wednesday, July 31st. This represents a $0.16 dividend on an annualized basis and a dividend yield of 4.01%. Tamarack Valley Energy’s dividend payout ratio (DPR) is presently 136.36%.

Insider Buying and Selling at Tamarack Valley Energy

In related news, Senior Officer Scott Shimek purchased 36,667 shares of Tamarack Valley Energy stock in a transaction on Thursday, June 20th. The shares were purchased at an average price of C$3.54 per share, for a total transaction of C$129,845.18. In other Tamarack Valley Energy news, Senior Officer Scott Shimek bought 36,667 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were bought at an average price of C$3.54 per share, for a total transaction of C$129,845.18. Also, Senior Officer Brian Leslie Schmidt bought 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were acquired at an average price of C$3.86 per share, for a total transaction of C$115,800.00. In the last quarter, insiders have purchased 143,560 shares of company stock worth $526,970. Insiders own 1.21% of the company’s stock.

About Tamarack Valley Energy

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.