Tamarack Valley Energy Ltd (TSE:TVE) Receives C$13.38 Consensus Target Price from Analysts

Tamarack Valley Energy Ltd (TSE:TVE) has received a consensus recommendation of “Buy” from the nine brokerages that are currently covering the stock, Marketbeat.com reports. Nine investment analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is C$13.38.

A number of research analysts have issued reports on the company. Roth Capital set a C$15.00 price objective on Tamarack Valley Energy and gave the company a “buy” rating in a research note on Tuesday, May 19th. Raymond James Financial lifted their target price on Tamarack Valley Energy from C$15.00 to C$16.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. Canaccord Genuity Group upgraded 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 report on Friday, May 29th. Desjardins set a C$16.00 price target on shares of Tamarack Valley Energy and gave the company a “buy” rating in a research report on Friday, July 17th. Finally, Canadian Imperial Bank of Commerce raised their price objective on shares of Tamarack Valley Energy from C$14.25 to C$15.25 and gave the stock an “outperformer” rating in a report on Friday, May 29th.

Tamarack Valley Energy Price Performance

Tamarack Valley Energy stock opened at C$13.16 on Friday. Tamarack Valley Energy has a 52 week low of C$5.18 and a 52 week high of C$14.03. The company’s 50 day moving average price is C$12.93 and its two-hundred day moving average price is C$11.66. The stock has a market cap of C$6.25 billion, a P/E ratio of 188.00 and a beta of 0.32. The company has a quick ratio of 0.80, a current ratio of 2.30 and a debt-to-equity ratio of 18.26.

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

Tamarack Valley Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.04 per share. The ex-dividend date 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 (DPR) is presently 225.24%.

Insider Buying and Selling

In related news, Director Robert Spitzer sold 10,000 shares of Tamarack Valley Energy 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 sale, the director owned 424,442 shares of the company’s stock, valued at approximately C$5,526,234.84. The trade was a 2.30% decrease in their position. Also, Director Rene Amirault acquired 78,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was purchased at an average price of C$13.09 per share, for a total transaction of C$1,027,565.00. Following the purchase, the director owned 454,602 shares of the company’s stock, valued at C$5,950,740.18. The trade was a 20.87% increase in their position. 1.32% of the stock is currently owned by 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.