Desjardins Analysts Give Tamarack Valley Energy (TSE:TVE) a C$5.00 Price Target

Desjardins set a C$5.00 target price on Tamarack Valley Energy (TSE:TVE) in a research report report published on Tuesday, BayStreet.CA reports. The firm currently has a buy rating on the stock.

A number of other brokerages have also recently issued reports on TVE. BMO Capital Markets set a C$4.00 price objective on Tamarack Valley Energy and gave the stock a market perform rating in a report on Thursday, March 21st. Stifel Nicolaus upped their price target on shares of Tamarack Valley Energy from C$5.25 to C$5.50 in a research report on Thursday, May 9th. ATB Capital cut their price objective on shares of Tamarack Valley Energy from C$6.00 to C$5.50 and set an outperform rating on the stock in a research report on Thursday, February 29th. Canaccord Genuity Group increased their price objective on shares of Tamarack Valley Energy from C$4.25 to C$4.75 and gave the stock a buy rating in a research report on Wednesday, April 17th. Finally, Cormark raised their price target on shares of Tamarack Valley Energy from C$4.75 to C$5.00 in a research report on Thursday, May 9th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Tamarack Valley Energy currently has an average rating of Moderate Buy and a consensus target price of C$4.98.

Tamarack Valley Energy Trading Up 1.4 %

TVE stock opened at C$3.73 on Tuesday. The business has a fifty day moving average price of C$3.68 and a 200 day moving average price of C$3.47. Tamarack Valley Energy has a fifty-two week low of C$2.76 and a fifty-two week high of C$4.34. The stock has a market capitalization of C$2.06 billion, a price-to-earnings ratio of 33.91 and a beta of 2.59. The company has a debt-to-equity ratio of 45.81, a current ratio of 0.67 and a quick ratio of 0.80.

Tamarack Valley Energy (TSE:TVE) last posted its quarterly earnings results on Wednesday, May 8th. The company reported C($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.04 by C($0.10). The company had revenue of C$393.34 million during the quarter. Tamarack Valley Energy had a return on equity of 2.78% and a net margin of 4.16%. Analysts expect that Tamarack Valley Energy will post 0.1714964 EPS for the current fiscal year.

Tamarack Valley Energy Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a dividend of $0.013 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.16 dividend on an annualized basis and a yield of 4.18%. Tamarack Valley Energy’s payout ratio is 136.36%.

Insider Activity

In other news, Senior Officer Scott Shimek acquired 8,500 shares of Tamarack Valley Energy stock in a transaction that occurred on Wednesday, April 3rd. The stock was purchased at an average price of C$4.08 per share, for a total transaction of C$34,680.00. In other news, Senior Officer Scott Shimek purchased 8,500 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The shares were purchased at an average cost of C$4.08 per share, with a total value of C$34,680.00. Also, Director Caralyn Patricia Bennett acquired 10,193 shares of Tamarack Valley Energy stock in a transaction on Monday, May 27th. The shares were bought at an average price of C$3.57 per share, with a total value of C$36,403.28. In the last quarter, insiders acquired 122,060 shares of company stock worth $445,850. 1.21% 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.