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

Tamarack Valley Energy (TSE:TVE) had its price objective raised by BMO Capital Markets from C$4.50 to C$5.50 in a research note published on Thursday,BayStreet.CA reports.

Other analysts also recently issued research reports about the stock. Acumen Capital increased their target price 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. Royal Bank of Canada increased their target price on shares of Tamarack Valley Energy from C$4.50 to C$5.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Raymond James raised shares of Tamarack Valley Energy to a “hold” rating in a research report on Thursday, October 17th. National Bankshares increased their target price on shares of Tamarack Valley Energy from C$6.75 to C$7.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, CIBC increased their target price on shares of Tamarack Valley Energy from C$5.50 to C$5.75 and gave the company an “outperform” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Tamarack Valley Energy presently has an average rating of “Moderate Buy” and an average target price of C$5.45.

Tamarack Valley Energy Stock Performance

TSE:TVE opened at C$4.44 on Thursday. The company has a market capitalization of C$2.42 billion, a PE ratio of 19.30 and a beta of 2.49. The company has a 50 day simple moving average of C$4.22 and a two-hundred day simple moving average of C$3.96. 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$4.70.

Tamarack Valley Energy Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 16th will be paid a $0.0127 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.15 annualized dividend and a dividend yield of 3.43%. This is a positive change from Tamarack Valley Energy’s previous monthly dividend of $0.01. Tamarack Valley Energy’s payout ratio is currently 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.