Tamarack Valley Energy (TSE:TVE) Rating Lowered to “Hold” at Desjardins

Desjardins lowered shares of Tamarack Valley Energy (TSE:TVE) from a buy rating to a hold rating in a report issued on Wednesday morning, Marketbeat.com reports. They currently have C$5.25 price objective on the stock, down from their prior price objective of C$6.00.

Other research analysts also recently issued reports about the stock. CIBC boosted their target price on shares of Tamarack Valley Energy from C$5.75 to C$6.50 in a research report on Friday, January 17th. Canaccord Genuity Group boosted 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. National Bankshares decreased their target price on shares of Tamarack Valley Energy from C$7.00 to C$6.75 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Finally, BMO Capital Markets upped their price objective on shares of Tamarack Valley Energy from C$6.00 to C$6.50 in a research report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$5.81.

Tamarack Valley Energy Trading Up 0.7 %

TSE:TVE opened at C$4.33 on Wednesday. Tamarack Valley Energy has a 12 month low of C$3.44 and a 12 month high of C$5.05. The firm has a fifty day simple moving average of C$4.41 and a 200-day simple moving average of C$4.31. The company has a current ratio of 0.73, a quick ratio of 0.80 and a debt-to-equity ratio of 34.61. The company has a market capitalization of C$2.29 billion, a P/E ratio of 11.09 and a beta of 2.49.

Tamarack Valley Energy Announces Dividend

The business also recently announced a monthly dividend, which was paid on Friday, March 14th. Investors of record on Friday, March 14th were given a $0.0127 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date of this dividend was Friday, February 28th. Tamarack Valley Energy’s dividend payout ratio (DPR) is 38.41%.

Insiders Place Their Bets

In related news, Senior Officer Brian Leslie Schmidt acquired 84,734 shares of Tamarack Valley Energy stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average price of C$4.55 per share, for a total transaction of C$385,539.70. 1.32% of the stock is currently owned by 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.