Tamarack Valley Energy Ltd (TSE:TVE) Receives C$5.23 Average PT from Analysts

Shares of Tamarack Valley Energy Ltd (TSE:TVE) have been given an average rating of “Moderate Buy” by the ten analysts that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is C$5.23.

A number of equities analysts have commented on TVE shares. Acumen Capital lifted their price objective 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. Raymond James raised shares of Tamarack Valley Energy to a “hold” rating in a report on Thursday, October 17th. National Bankshares increased their price objective on shares of Tamarack Valley Energy from C$6.75 to C$7.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. CIBC lifted their target price 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. Finally, Royal Bank of Canada increased their price target 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.

Tamarack Valley Energy Price Performance

Shares of TVE opened at C$4.61 on Thursday. Tamarack Valley Energy has a 52 week low of C$2.76 and a 52 week high of C$4.62. The company has a current ratio of 0.90, a quick ratio of 0.80 and a debt-to-equity ratio of 41.72. The firm has a market cap of C$2.51 billion, a price-to-earnings ratio of 20.04 and a beta of 2.49. The stock has a 50 day moving average of C$4.14 and a 200-day moving average of C$3.91.

Tamarack Valley Energy Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 16th will be issued a $0.0127 dividend. This represents a $0.15 annualized dividend and a dividend yield of 3.31%. This is a boost from Tamarack Valley Energy’s previous monthly dividend of $0.01. The ex-dividend date of this dividend is Friday, November 29th. Tamarack Valley Energy’s dividend payout ratio (DPR) is presently 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.