Tamarack Valley Energy Ltd (TSE:TVE) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Tamarack Valley Energy Ltd (TSE:TVE) have received an average recommendation of “Moderate Buy” from the nine research firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is C$4.98.

A number of equities analysts have recently commented on TVE shares. CIBC lifted their target price on Tamarack Valley Energy from C$4.50 to C$5.25 and gave the stock an “outperform” rating in a report on Monday, April 22nd. Stifel Nicolaus lifted their price target on shares of Tamarack Valley Energy from C$5.25 to C$5.50 in a research note on Thursday, May 9th. BMO Capital Markets set a C$4.00 price target on shares of Tamarack Valley Energy and gave the company a “market perform” rating in a report on Thursday, March 21st. Cormark raised their price objective on shares of Tamarack Valley Energy from C$4.75 to C$5.00 in a research note on Thursday, May 9th. Finally, Canaccord Genuity Group upped their target price on Tamarack Valley Energy from C$4.25 to C$4.75 and gave the company a “buy” rating in a research note on Wednesday, April 17th.

Tamarack Valley Energy Price Performance

Shares of Tamarack Valley Energy stock opened at C$3.73 on Monday. The company has a current ratio of 0.67, a quick ratio of 0.80 and a debt-to-equity ratio of 45.81. Tamarack Valley Energy has a 12 month low of C$2.76 and a 12 month high of C$4.34. The stock has a 50 day moving average of C$3.68 and a 200 day moving average of C$3.49. The firm has a market cap of C$2.06 billion, a PE ratio of 33.91 and a beta of 2.59.

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

Tamarack Valley Energy Announces Dividend

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

Insider Buying and Selling

In other Tamarack Valley Energy news, Senior Officer Scott Shimek bought 51,130 shares of the business’s stock in a transaction on Tuesday, June 25th. The shares were acquired at an average price of C$3.70 per share, with a total value of C$189,181.00. In other Tamarack Valley Energy news, Senior Officer Scott Shimek acquired 51,130 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The shares were bought at an average cost of C$3.70 per share, with a total value of C$189,181.00. Also, Senior Officer Christine Ezinga bought 15,570 shares of the stock in a transaction on Thursday, June 6th. The shares were bought at an average price of C$3.58 per share, with a total value of C$55,740.60. Insiders acquired a total of 122,060 shares of company stock valued at $445,850 over the last three months. 1.21% of the stock is owned by company 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.