National Bankshares Cuts Tamarack Valley Energy (TSE:TVE) Price Target to C$6.75

Tamarack Valley Energy (TSE:TVE) had its price objective reduced by National Bankshares from C$7.00 to C$6.75 in a report released on Thursday,BayStreet.CA reports. They currently have an outperform rating on the stock.

TVE has been the topic of a number of other research reports. Canaccord Genuity Group raised their price objective on Tamarack Valley Energy from C$5.00 to C$5.75 in a research note on Thursday, December 5th. BMO Capital Markets increased their target price on shares of Tamarack Valley Energy from C$5.50 to C$6.00 in a report on Friday, December 13th. Royal Bank of Canada upped their price target on shares of Tamarack Valley Energy from C$4.50 to C$5.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. CIBC upped their price target 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. Finally, Acumen Capital raised their price target on shares of Tamarack Valley Energy from C$5.50 to C$6.00 and gave the stock a “buy” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Tamarack Valley Energy currently has an average rating of “Moderate Buy” and a consensus price target of C$5.48.

Tamarack Valley Energy Trading Up 3.5 %

TVE opened at C$4.38 on Thursday. The company has a current ratio of 0.90, a quick ratio of 0.80 and a debt-to-equity ratio of 41.72. Tamarack Valley Energy has a 12 month low of C$2.90 and a 12 month high of C$4.70. The stock has a market capitalization of C$2.38 billion, a P/E ratio of 19.04 and a beta of 2.49. The firm’s fifty day simple moving average is C$4.29 and its 200 day simple moving average is C$4.00.

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 issued a dividend of $0.0127 per share. This is a positive change from Tamarack Valley Energy’s previous monthly dividend of $0.01. This represents a $0.15 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date of this dividend was Friday, November 29th. Tamarack Valley Energy’s payout ratio is currently 65.22%.

Insider Transactions at Tamarack Valley Energy

In related news, Director Marnie Smith sold 9,668 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of C$4.42, for a total transaction of C$42,732.56. Company 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.