Brokerages Set Tamarack Valley Energy Ltd (TSE:TVE) PT at C$5.00

Shares of Tamarack Valley Energy Ltd (TSE:TVE) have been given an average recommendation of “Moderate Buy” by the nine analysts that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is C$5.00.

Several research analysts have recently weighed in on the stock. CIBC boosted their price objective on shares of Tamarack Valley Energy from C$5.25 to C$5.50 in a report on Monday, July 15th. Desjardins set a C$5.00 target price on shares of Tamarack Valley Energy and gave the company a “buy” rating in a research report on Tuesday, June 25th.

Tamarack Valley Energy Price Performance

TSE:TVE opened at C$3.65 on Friday. The firm has a market cap of C$1.99 billion, a P/E ratio of 15.87 and a beta of 2.50. The company has a debt-to-equity ratio of 41.72, a quick ratio of 0.80 and a current ratio of 0.90. Tamarack Valley Energy has a fifty-two week low of C$2.76 and a fifty-two week high of C$4.34. The firm has a 50-day simple moving average of C$3.89 and a two-hundred day simple moving average of C$3.77.

Tamarack Valley Energy (TSE:TVE) last released its quarterly earnings data on Thursday, August 1st. The company reported C$0.17 earnings per share for the quarter. Tamarack Valley Energy had a net margin of 8.66% and a return on equity of 5.94%. The business had revenue of C$382.98 million during the quarter. Analysts predict that Tamarack Valley Energy will post 0.1294964 earnings per share for the current fiscal year.

Tamarack Valley Energy Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be given a $0.013 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 4.27%. Tamarack Valley Energy’s payout ratio is currently 65.22%.

Insider Buying and Selling

In related news, Senior Officer Scott Shimek bought 36,667 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was 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 purchased 36,667 shares of the firm’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, with a total value of C$129,845.18. Also, Senior Officer Brian Leslie Schmidt purchased 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were acquired at an average cost of C$3.86 per share, for a total transaction of C$115,800.00. Over the last quarter, insiders purchased 143,747 shares of company stock worth $534,169. 1.30% of the stock is owned by insiders.

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.