Tamarack Valley Energy (TSE:TVE) Upgraded to Outperform at BMO Capital Markets

BMO Capital Markets upgraded shares of Tamarack Valley Energy (TSE:TVE) from a market perform rating to an outperform rating in a research report released on Friday morning, BayStreet.CA reports.

A number of other brokerages have also recently weighed in on TVE. National Bankshares reduced their price target on shares of Tamarack Valley Energy from C$7.25 to C$6.75 in a research report on Friday, September 27th. CIBC lifted their target price on shares of Tamarack Valley Energy from C$5.25 to C$5.50 in a report on Monday, July 15th. Finally, Desjardins set a C$5.00 price target on Tamarack Valley Energy and gave the company a buy rating in a report on Tuesday, June 25th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of Buy and a consensus price target of C$5.03.

Tamarack Valley Energy Trading Up 1.2 %

Shares of TVE opened at C$4.24 on Friday. The stock’s fifty day simple moving average is C$3.93 and its 200 day simple moving average is C$3.83. Tamarack Valley Energy has a twelve month low of C$2.76 and a twelve month high of C$4.34. 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 capitalization of C$2.31 billion, a P/E ratio of 18.43 and a beta of 2.50.

Tamarack Valley Energy (TSE:TVE) last released its quarterly earnings data on Thursday, August 1st. The company reported C$0.17 EPS for the quarter. Tamarack Valley Energy had a return on equity of 5.94% and a net margin of 8.66%. The company had revenue of C$382.98 million for the quarter.

Tamarack Valley Energy Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a $0.013 dividend. The ex-dividend date is Friday, September 27th. This represents a $0.16 dividend on an annualized basis and a yield of 3.68%. Tamarack Valley Energy’s payout ratio is currently 65.22%.

Insider Activity

In other Tamarack Valley Energy news, Senior Officer Christine Ezinga acquired 8,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were bought at an average cost of C$3.67 per share, for a total transaction of C$29,367.20. Insiders acquired 28,173 shares of company stock worth $107,945 over the last ninety days. 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.