Brokerages Set Tamarack Valley Energy Ltd (TSE:TVE) Target Price at C$13.70

Shares of Tamarack Valley Energy Ltd (TSE:TVE) have been given a consensus recommendation of “Buy” by the ten ratings firms that are covering the company, Marketbeat.com reports. Ten analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is C$13.70.

A number of brokerages have issued reports on TVE. Jefferies Financial Group set a C$17.00 target price on Tamarack Valley Energy and gave the stock a “buy” rating in a research note on Tuesday, August 18th. Desjardins set a C$16.00 target price on shares of Tamarack Valley Energy and gave the stock a “buy” rating in a research note on Friday, July 17th. Canaccord Genuity Group raised shares of Tamarack Valley Energy from a “hold” rating to a “buy” rating and increased their price target for the company from C$12.00 to C$15.00 in a research note on Friday, May 29th. Raymond James Financial lifted their price target on shares of Tamarack Valley Energy from C$15.00 to C$16.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. Finally, Canadian Imperial Bank of Commerce increased their price objective on Tamarack Valley Energy from C$14.25 to C$15.25 and gave the stock an “outperformer” rating in a research report on Friday, May 29th.

Insider Transactions at Tamarack Valley Energy

In related news, Director Robert Spitzer sold 10,000 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of C$13.02, for a total transaction of C$130,200.00. Following the completion of the sale, the director directly owned 424,442 shares of the company’s stock, valued at approximately C$5,526,234.84. This trade represents a 2.30% decrease in their position. Also, Director Shannon Joseph acquired 27,521 shares of Tamarack Valley Energy stock in a transaction that occurred on Tuesday, June 16th. The stock was bought at an average price of C$12.56 per share, for a total transaction of C$345,663.76. Following the completion of the acquisition, the director owned 66,376 shares in the company, valued at C$833,682.56. This trade represents a 70.83% increase in their position. 1.32% of the stock is currently owned by company insiders.

Tamarack Valley Energy Price Performance

TVE stock opened at C$13.36 on Wednesday. The company has a debt-to-equity ratio of 18.26, a current ratio of 2.30 and a quick ratio of 0.80. The business has a 50 day simple moving average of C$13.16 and a 200-day simple moving average of C$12.21. The firm has a market capitalization of C$6.35 billion, a PE ratio of 190.86 and a beta of 0.26. Tamarack Valley Energy has a 1 year low of C$5.18 and a 1 year high of C$14.05.

Tamarack Valley Energy (TSE:TVE) last posted its quarterly earnings results on Tuesday, July 28th. The company reported C$0.43 EPS for the quarter. Tamarack Valley Energy had a return on equity of 1.34% and a net margin of 1.50%.The firm had revenue of C$493.95 million during the quarter. Equities research analysts anticipate that Tamarack Valley Energy will post 0.1386527 earnings per share for the current fiscal year.

Tamarack Valley Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.05 per share. The ex-dividend date is Tuesday, September 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.5%. This is a boost from Tamarack Valley Energy’s previous quarterly dividend of $0.04. Tamarack Valley Energy’s dividend payout ratio (DPR) is currently 225.24%.

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.