Brokerages Set Tamarack Valley Energy Ltd (TSE:TVE) Target Price at C$8.92

Tamarack Valley Energy Ltd (TSE:TVE) has been assigned a consensus recommendation of “Moderate Buy” from the eight analysts that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is C$8.92.

A number of research analysts recently weighed in on the company. Acumen Capital upped their price target on Tamarack Valley Energy from C$7.25 to C$7.50 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Canaccord Genuity Group upped their target price on Tamarack Valley Energy from C$6.75 to C$8.00 in a research report on Thursday, December 4th. Royal Bank Of Canada increased their target price on Tamarack Valley Energy from C$8.00 to C$9.00 and gave the stock an “outperform” rating in a report on Thursday, December 4th. BMO Capital Markets lifted their price target on shares of Tamarack Valley Energy from C$9.00 to C$11.00 in a research report on Friday, November 21st. Finally, National Bankshares upped their price objective on shares of Tamarack Valley Energy from C$8.00 to C$9.00 and gave the stock an “outperform” rating in a report on Thursday, December 4th.

Insiders Place Their Bets

In related news, Director Shannon Joseph purchased 16,129 shares of the business’s stock in a transaction on Thursday, November 6th. The stock was acquired at an average price of C$6.32 per share, for a total transaction of C$101,935.28. Following the purchase, the director owned 38,328 shares of the company’s stock, valued at approximately C$242,232.96. This trade represents a 72.66% increase in their ownership of the stock. Insiders own 1.32% of the company’s stock.

Tamarack Valley Energy Stock Performance

TSE:TVE opened at C$8.78 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 0.73 and a debt-to-equity ratio of 34.61. Tamarack Valley Energy has a twelve month low of C$3.10 and a twelve month high of C$9.15. The company has a fifty day moving average of C$7.87 and a 200-day moving average of C$6.49. The firm has a market capitalization of C$4.27 billion, a P/E ratio of -51.65 and a beta of 0.81.

Tamarack Valley Energy (TSE:TVE) last posted its quarterly earnings results on Friday, October 31st. The company reported C($0.50) earnings per share for the quarter. The company had revenue of C$406.32 million during the quarter. Tamarack Valley Energy had a net margin of 13.48% and a return on equity of 9.89%. As a group, sell-side analysts anticipate that Tamarack Valley Energy will post 0.1386527 EPS for the current year.

Tamarack Valley Energy Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, November 14th. Investors of record on Friday, November 14th were issued a $0.0127 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Friday, October 31st. Tamarack Valley Energy’s dividend payout ratio is currently -89.85%.

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.