Desjardins Analysts Give Tamarack Valley Energy (TSE:TVE) a C$5.00 Price Target

Desjardins set a C$5.00 price target on Tamarack Valley Energy (TSE:TVE) in a report published on Tuesday morning, BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts also recently commented on the company. Canaccord Genuity Group lifted their price objective on Tamarack Valley Energy from C$4.25 to C$4.75 and gave the company a buy rating in a research report on Wednesday, April 17th. Stifel Nicolaus lifted their price objective on Tamarack Valley Energy from C$5.25 to C$5.50 in a research report on Thursday, May 9th. ATB Capital lowered their price objective 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. Royal Bank of Canada lifted their price objective on Tamarack Valley Energy from C$4.00 to C$4.25 and gave the company an outperform rating in a research report on Thursday, February 29th. Finally, BMO Capital Markets set a C$4.00 price objective on Tamarack Valley Energy and gave the company a market perform rating in a research report on Thursday, March 21st. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of C$4.98.

Tamarack Valley Energy Stock Performance

TSE TVE opened at C$3.70 on Tuesday. Tamarack Valley Energy has a fifty-two week low of C$2.76 and a fifty-two week high of C$4.34. The stock has a market cap of C$2.05 billion, a price-to-earnings ratio of 33.64 and a beta of 2.59. The business has a fifty day moving average of C$3.68 and a 200-day moving average of C$3.47. The company has a quick ratio of 0.80, a current ratio of 0.67 and a debt-to-equity ratio of 45.81.

Tamarack Valley Energy (TSE:TVE) last released its quarterly earnings results on Wednesday, May 8th. The company reported C($0.06) earnings per share 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 company had revenue of C$393.34 million during the quarter. As a group, analysts predict 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 announced a monthly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a $0.013 dividend. This represents a $0.16 annualized dividend and a dividend yield of 4.22%. The ex-dividend date is Friday, June 28th. Tamarack Valley Energy’s payout ratio is 136.36%.

Insider Transactions at Tamarack Valley Energy

In related news, Senior Officer Scott Shimek bought 8,500 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The stock was bought at an average price of C$4.08 per share, with a total value of C$34,680.00. In other news, Director Caralyn Patricia Bennett bought 10,193 shares of the firm’s stock in a transaction dated Monday, May 27th. The stock was bought at an average price of C$3.57 per share, for a total transaction of C$36,403.28. Also, Senior Officer Scott Shimek bought 8,500 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The stock was purchased at an average price of C$4.08 per share, with a total value of C$34,680.00. Insiders purchased 70,930 shares of company stock valued at $256,669 over the last quarter. Company insiders own 1.21% 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.