Tamarack Valley Energy (TSE:TVE) Upgraded to “Moderate Buy” at Desjardins

Desjardins upgraded shares of Tamarack Valley Energy (TSE:TVE) to a moderate buy rating in a report issued on Thursday morning,Zacks.com reports.

Several other research firms have also recently commented on TVE. Canadian Imperial Bank of Commerce boosted their target price on Tamarack Valley Energy from C$14.25 to C$15.25 and gave the company an “outperformer” rating in a research note on Friday, May 29th. Raymond James Financial raised shares of Tamarack Valley Energy from a “market perform” rating to an “outperform” rating and raised their target price for the company from C$12.00 to C$15.00 in a research report on Friday, May 29th. Roth Capital set a C$15.00 target price on Tamarack Valley Energy and gave the company a “buy” rating in a research report on Tuesday, May 19th. Canaccord Genuity Group upgraded Tamarack Valley Energy from a “hold” rating to a “buy” rating and upped their target price for the stock from C$12.00 to C$15.00 in a report on Friday, May 29th. Finally, Royal Bank Of Canada increased their price target on Tamarack Valley Energy from C$11.00 to C$12.00 and gave the company an “outperform” rating in a research report on Monday, April 13th. Nine equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of C$13.28.

Tamarack Valley Energy Stock Performance

Shares of TVE opened at C$13.21 on Thursday. The company has a debt-to-equity ratio of 38.89, a quick ratio of 0.80 and a current ratio of 0.69. Tamarack Valley Energy has a twelve month low of C$4.98 and a twelve month high of C$14.03. The firm’s 50 day moving average price is C$12.83 and its two-hundred day moving average price is C$11.06. The firm has a market cap of C$6.32 billion, a P/E ratio of -73.39 and a beta of 0.33.

Tamarack Valley Energy (TSE:TVE) last announced its earnings results on Wednesday, May 6th. The company reported C$0.20 earnings per share for the quarter. The firm had revenue of C$375.55 million during the quarter. Tamarack Valley Energy had a negative net margin of 6.60% and a negative return on equity of 5.03%. On average, analysts forecast that Tamarack Valley Energy will post 0.1386527 EPS for the current fiscal year.

Tamarack Valley Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were given a $0.04 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.16 annualized dividend and a dividend yield of 1.2%. Tamarack Valley Energy’s dividend payout ratio is presently -86.62%.

Insider Transactions at Tamarack Valley Energy

In related news, Director Rene Amirault bought 78,500 shares of Tamarack Valley Energy stock in a transaction that occurred on Wednesday, June 3rd. The stock was acquired at an average price of C$13.09 per share, with a total value of C$1,027,565.00. Following the acquisition, the director owned 454,602 shares of the company’s stock, valued at approximately C$5,950,740.18. This represents a 20.87% increase in their position. Also, Director Robert Spitzer sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of C$13.02, for a total value of C$130,200.00. Following the completion of the transaction, the director directly owned 424,442 shares in the company, valued at C$5,526,234.84. The trade was a 2.30% decrease in their position. 1.32% of the stock is currently owned by corporate insiders.

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.