Tamarack Valley Energy Ltd (TSE:TVE) Receives C$4.88 Consensus Target Price from Analysts

Tamarack Valley Energy Ltd (TSE:TVE) has been assigned an average rating of “Moderate Buy” from the nine research firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is C$4.88.

Several equities research analysts have issued reports on TVE shares. Stifel Nicolaus raised their target price on Tamarack Valley Energy from C$4.75 to C$5.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Raymond James cut their target price on Tamarack Valley Energy from C$5.00 to C$4.00 and set an “outperform” rating for the company in a research note on Friday, January 19th. ATB Capital cut their target price on Tamarack Valley Energy from C$6.00 to C$5.50 and set an “outperform” rating for the company in a research note on Thursday, February 29th. Desjardins lifted their price objective on Tamarack Valley Energy from C$4.50 to C$4.75 and gave the company a “buy” rating in a research note on Friday, March 22nd. Finally, CIBC dropped their price objective on Tamarack Valley Energy from C$5.25 to C$4.50 and set an “outperform” rating for the company in a research note on Tuesday, January 16th.

Tamarack Valley Energy Price Performance

TVE stock opened at C$3.85 on Wednesday. The business has a fifty day moving average of C$3.59 and a two-hundred day moving average of C$3.50. The company has a quick ratio of 0.80, a current ratio of 0.52 and a debt-to-equity ratio of 43.39. The stock has a market cap of C$2.09 billion, a price-to-earnings ratio of 22.65 and a beta of 2.59. Tamarack Valley Energy has a 52-week low of C$2.76 and a 52-week high of C$4.34.

Tamarack Valley Energy (TSE:TVE) last posted its earnings results on Wednesday, February 28th. The company reported C$0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.06 by C$0.04. The company had revenue of C$418.86 million during the quarter. Tamarack Valley Energy had a return on equity of 4.34% and a net margin of 6.70%. As a group, research analysts anticipate that Tamarack Valley Energy will post 0.2799189 earnings per share for the current year.

Tamarack Valley Energy Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 15th will be paid a $0.0125 dividend. The ex-dividend date is Monday, April 29th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 3.90%. Tamarack Valley Energy’s payout ratio is presently 88.24%.

Insider Activity at Tamarack Valley Energy

In related news, Senior Officer Scott Shimek bought 8,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was purchased at an average cost of C$4.08 per share, for a total transaction of C$34,680.00. In related news, Senior Officer Scott Shimek bought 8,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was purchased at an average cost of C$4.08 per share, for a total transaction of C$34,680.00. Also, Senior Officer Christine Ezinga bought 21,150 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was bought at an average price of C$3.74 per share, with a total value of C$79,012.17. Over the last three months, insiders purchased 47,718 shares of company stock worth $178,867. Company insiders own 1.15% of the company’s stock.

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.