Tamarack Valley Energy (TSE:TVE) Price Target Raised to C$4.75 at Canaccord Genuity Group

Tamarack Valley Energy (TSE:TVE) had its target price upped by Canaccord Genuity Group from C$4.25 to C$4.75 in a report released on Wednesday morning, BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

A number of other analysts have also weighed in on TVE. ATB Capital dropped their price objective 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. National Bankshares raised their price target on Tamarack Valley Energy from C$6.00 to C$6.50 and gave the stock an outperform rating in a research note on Wednesday, January 10th. CIBC dropped their price target 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. Stifel Nicolaus raised their price target 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. Finally, Royal Bank of Canada raised their price target on Tamarack Valley Energy from C$4.00 to C$4.25 and gave the stock an outperform rating in a research note on Thursday, February 29th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of C$4.85.

Tamarack Valley Energy Stock Performance

TSE:TVE opened at C$3.77 on Wednesday. The firm has a market cap of C$2.05 billion, a PE ratio of 22.18 and a beta of 2.59. Tamarack Valley Energy has a fifty-two week low of C$2.76 and a fifty-two week high of C$4.34. The company has a debt-to-equity ratio of 43.39, a quick ratio of 0.80 and a current ratio of 0.52. The business has a 50 day moving average price of C$3.63 and a 200-day moving average price of C$3.51.

Tamarack Valley Energy (TSE:TVE) last released its quarterly earnings data on Wednesday, February 28th. The company reported C$0.10 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.06 by C$0.04. The firm 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%. Equities research analysts predict 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. Shareholders of record on Tuesday, April 30th will be issued a $0.0125 dividend. The ex-dividend date is Monday, April 29th. This represents a $0.15 dividend on an annualized basis and a yield of 3.98%. Tamarack Valley Energy’s dividend payout ratio (DPR) is 88.24%.

Insiders Place Their Bets

In related news, Senior Officer Brian Leslie Schmidt purchased 8,673 shares of Tamarack Valley Energy stock in a transaction dated Wednesday, March 13th. The stock was purchased at an average cost of C$3.55 per share, for a total transaction of C$30,789.15. In related news, Senior Officer Brian Leslie Schmidt purchased 8,673 shares of Tamarack Valley Energy stock in a transaction dated Wednesday, March 13th. The stock was purchased at an average cost of C$3.55 per share, for a total transaction of C$30,789.15. Also, Senior Officer Scott Shimek purchased 8,500 shares of Tamarack Valley Energy stock in a transaction dated Wednesday, April 3rd. The shares were bought at an average price of C$4.08 per share, with a total value of C$34,680.00. Over the last 90 days, insiders bought 47,718 shares of company stock worth $178,867. 1.15% of the stock is owned by corporate 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.