Tamarack Valley Energy Ltd (TSE:TVE) Receives C$13.38 Average PT from Brokerages

Shares of Tamarack Valley Energy Ltd (TSE:TVE) have been given an average rating of “Buy” by the nine research firms that are presently covering the stock, Marketbeat.com reports. Nine research analysts have rated the stock with a buy rating. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is C$13.38.

A number of equities analysts have recently commented on the stock. Roth Capital set a C$15.00 price target on shares of Tamarack Valley Energy and gave the stock a “buy” rating in a report on Tuesday, May 19th. Desjardins set a C$16.00 price objective on shares of Tamarack Valley Energy and gave the stock a “buy” rating in a report on Friday, July 17th. Canadian Imperial Bank of Commerce upped their target price on shares of Tamarack Valley Energy from C$14.25 to C$15.25 and gave the stock an “outperformer” rating in a research report on Friday, May 29th. Canaccord Genuity Group raised Tamarack Valley Energy from a “hold” rating to a “buy” rating and increased their target price for the company from C$12.00 to C$15.00 in a research note on Friday, May 29th. Finally, Raymond James Financial lifted their price target on Tamarack Valley Energy from C$15.00 to C$16.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th.

Insider Activity at Tamarack Valley Energy

In other news, Director Rene Amirault bought 78,500 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was acquired at an average price of C$13.09 per share, with a total value of C$1,027,565.00. Following the completion of the purchase, the director directly owned 454,602 shares in the company, valued at C$5,950,740.18. This represents a 20.87% increase in their ownership of the stock. Also, Director Shannon Joseph purchased 27,521 shares of Tamarack Valley Energy stock in a transaction on Tuesday, June 16th. The shares were acquired at an average price of C$12.56 per share, for a total transaction of C$345,663.76. Following the completion of the transaction, the director directly owned 66,376 shares of the company’s stock, valued at approximately C$833,682.56. The trade was a 70.83% increase in their ownership of the stock. 1.32% of the stock is currently owned by insiders.

Tamarack Valley Energy Stock Up 2.0%

TVE stock opened at C$13.22 on Friday. The company has a current ratio of 2.30, a quick ratio of 0.80 and a debt-to-equity ratio of 18.26. The company’s 50 day moving average is C$12.90 and its 200 day moving average is C$11.76. The stock has a market cap of C$6.28 billion, a price-to-earnings ratio of 188.86 and a beta of 0.32. Tamarack Valley Energy has a 1-year low of C$5.18 and a 1-year high of C$14.03.

Tamarack Valley Energy (TSE:TVE) last announced its earnings results on Tuesday, July 28th. The company reported C$0.43 earnings per share for the quarter. Tamarack Valley Energy had a net margin of 1.50% and a return on equity of 1.34%. The business had revenue of C$493.95 million for the quarter. Sell-side analysts predict that Tamarack Valley Energy will post 0.1386527 EPS for the current fiscal year.

Tamarack Valley Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.04 per share. The ex-dividend date was Monday, June 15th. This represents a $0.16 annualized dividend and a dividend yield of 1.2%. Tamarack Valley Energy’s dividend payout ratio is 225.24%.

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.