Tamarack Valley Energy (TSE:TVE) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Tamarack Valley Energy (TSE:TVE) had its price target increased by Royal Bank of Canada from C$4.50 to C$5.00 in a research report report published on Friday morning, BayStreet.CA reports. Royal Bank of Canada currently has an outperform rating on the stock.

TVE has been the subject of a number of other reports. BMO Capital Markets raised shares of Tamarack Valley Energy from a “market perform” rating to an “outperform” rating in a research note on Friday, October 4th. Raymond James upgraded Tamarack Valley Energy to a “hold” rating in a research note on Thursday, October 17th. CIBC lifted their price objective on shares of Tamarack Valley Energy from C$5.25 to C$5.50 in a report on Monday, July 15th. Finally, National Bankshares decreased their target price on shares of Tamarack Valley Energy from C$7.25 to C$6.75 in a research report on Friday, September 27th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$5.23.

Tamarack Valley Energy Stock Performance

TVE stock opened at C$4.42 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.90 and a debt-to-equity ratio of 41.72. Tamarack Valley Energy has a twelve month low of C$2.76 and a twelve month high of C$4.49. The business’s fifty day moving average is C$3.98 and its 200-day moving average is C$3.85. The company has a market cap of C$2.41 billion, a P/E ratio of 19.22 and a beta of 2.49.

Tamarack Valley Energy Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.0125 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.15 dividend on an annualized basis and a yield of 3.39%. Tamarack Valley Energy’s dividend payout ratio (DPR) is 65.22%.

Insider Activity at Tamarack Valley Energy

In other news, Senior Officer Christine Ezinga purchased 13,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average cost of C$3.99 per share, with a total value of C$51,870.00. 1.32% of the stock is 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.