BMO Capital Markets Forecasts Strong Price Appreciation for Tamarack Valley Energy (TSE:TVE) Stock

Tamarack Valley Energy (TSE:TVE) had its price target lifted by BMO Capital Markets from C$5.50 to C$6.00 in a research report sent to investors on Friday,BayStreet.CA reports.

A number of other equities analysts have also recently weighed in on TVE. Royal Bank of Canada boosted their price target on Tamarack Valley Energy from C$4.50 to C$5.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Raymond James raised shares of Tamarack Valley Energy to a “hold” rating in a research report on Thursday, October 17th. National Bankshares increased their target price on Tamarack Valley Energy from C$6.75 to C$7.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. CIBC lifted their price target on shares of Tamarack Valley Energy from C$5.50 to C$5.75 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Canaccord Genuity Group increased their target price on shares of Tamarack Valley Energy from C$5.00 to C$5.75 in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$5.50.

Tamarack Valley Energy Trading Down 0.7 %

Shares of TVE opened at C$4.39 on Friday. The company has a debt-to-equity ratio of 41.72, a current ratio of 0.90 and a quick ratio of 0.80. Tamarack Valley Energy has a 1-year low of C$2.90 and a 1-year high of C$4.70. The stock has a market cap of C$2.39 billion, a price-to-earnings ratio of 19.09 and a beta of 2.49. The firm has a 50 day simple moving average of C$4.27 and a 200-day simple moving average of C$3.98.

Tamarack Valley Energy Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 16th will be given a dividend of $0.0127 per share. The ex-dividend date is Friday, November 29th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 3.47%. This is an increase from Tamarack Valley Energy’s previous monthly dividend of $0.01. Tamarack Valley Energy’s dividend payout ratio (DPR) is presently 65.22%.

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.