Tamarack Valley Energy (TSE:TVE) Downgraded by Desjardins to Hold

Desjardins cut shares of Tamarack Valley Energy (TSE:TVE) from a buy rating to a hold rating in a research note released on Wednesday morning,BayStreet.CA reports. The brokerage currently has C$5.25 target price on the stock, down from their previous target price of C$6.00.

A number of other equities research analysts also recently weighed in on the stock. National Bankshares lowered their target price on shares of Tamarack Valley Energy from C$7.00 to C$6.75 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. Canaccord Genuity Group lifted their price objective on shares of Tamarack Valley Energy from C$5.00 to C$5.75 in a report on Thursday, December 5th. CIBC raised their price target on Tamarack Valley Energy from C$5.75 to C$6.50 in a research report on Friday, January 17th. Finally, BMO Capital Markets lifted their price target on Tamarack Valley Energy from C$6.00 to C$6.50 in a research note on Thursday, February 13th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$5.81.

Tamarack Valley Energy Price Performance

TSE:TVE opened at C$4.25 on Wednesday. The firm has a market capitalization of C$2.24 billion, a price-to-earnings ratio of 10.88 and a beta of 2.49. The company has a debt-to-equity ratio of 34.61, a quick ratio of 0.80 and a current ratio of 0.73. The stock has a fifty day moving average of C$4.43 and a 200 day moving average of C$4.31. Tamarack Valley Energy has a 52-week low of C$3.44 and a 52-week high of C$5.05.

Tamarack Valley Energy Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, March 14th were issued a $0.0127 dividend. This represents a $0.15 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend was Friday, February 28th. Tamarack Valley Energy’s dividend payout ratio is 38.41%.

Insider Activity at Tamarack Valley Energy

In other Tamarack Valley Energy news, Senior Officer Brian Leslie Schmidt purchased 84,734 shares of the stock in a transaction on Monday, March 3rd. The stock was acquired at an average price of C$4.55 per share, with a total value of C$385,539.70. 1.32% of the stock is currently owned by company 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.