Brokerages Set Tamarack Valley Energy Ltd (TSE:TVE) Price Target at C$5.50

Shares of Tamarack Valley Energy Ltd (TSE:TVE) have been given an average rating of “Moderate Buy” by the ten brokerages that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is C$5.50.

A number of equities research analysts have recently weighed in on TVE shares. National Bankshares raised their price objective on shares of Tamarack Valley Energy from C$6.75 to C$7.00 and gave the company an “outperform” rating in a report on Friday, November 1st. CIBC raised their price target on Tamarack Valley Energy from C$5.50 to C$5.75 and gave the company an “outperform” rating in a research note on Friday, November 1st. Canaccord Genuity Group upped their price objective on Tamarack Valley Energy from C$5.00 to C$5.75 in a research report on Thursday, December 5th. Royal Bank of Canada raised their target price on Tamarack Valley Energy from C$4.50 to C$5.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Raymond James upgraded shares of Tamarack Valley Energy to a “hold” rating in a report on Thursday, October 17th.

Tamarack Valley Energy Stock Down 2.3 %

TVE stock opened at C$4.21 on Monday. The company’s 50 day moving average price is C$4.28 and its 200 day moving average price is C$3.99. The firm has a market capitalization of C$2.29 billion, a price-to-earnings ratio of 18.30 and a beta of 2.49. Tamarack Valley Energy has a fifty-two week low of C$2.90 and a fifty-two week high of C$4.70. 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 Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 16th were given a dividend of $0.0127 per share. This represents a $0.15 dividend on an annualized basis and a yield of 3.62%. This is a boost from Tamarack Valley Energy’s previous monthly dividend of $0.01. The ex-dividend date of this dividend was Friday, November 29th. Tamarack Valley Energy’s dividend payout ratio (DPR) is presently 65.22%.

Insider Activity

In other Tamarack Valley Energy news, Director Marnie Smith sold 9,668 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of C$4.42, for a total transaction of C$42,732.56. Corporate insiders own 1.32% 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.