Tamarack Valley Energy Ltd (TSE:TVE) Receives Average Rating of “Moderate Buy” from Brokerages

Tamarack Valley Energy Ltd (TSE:TVE) has earned an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is C$5.81.

Several equities analysts recently weighed in on the stock. Canaccord Genuity Group increased their price target on shares of Tamarack Valley Energy from C$5.00 to C$5.75 in a research report on Thursday, December 5th. CIBC boosted their target price on shares of Tamarack Valley Energy from C$5.75 to C$6.50 in a research note on Friday, January 17th. Desjardins lowered shares of Tamarack Valley Energy from a “buy” rating to a “hold” rating and decreased their price target for the stock from C$6.00 to C$5.25 in a research note on Wednesday, March 19th. BMO Capital Markets upped their price objective on Tamarack Valley Energy from C$6.00 to C$6.50 in a research note on Thursday, February 13th. Finally, National Bankshares reduced their price objective on Tamarack Valley Energy from C$7.00 to C$6.75 and set an “outperform” rating for the company in a report on Thursday, December 19th.

Insider Activity at Tamarack Valley Energy

In other news, Senior Officer Brian Leslie Schmidt bought 84,734 shares of the stock in a transaction on Monday, March 3rd. The shares were acquired at an average cost of C$4.55 per share, for a total transaction of C$385,539.70. 1.32% of the stock is currently owned by corporate insiders.

Tamarack Valley Energy Stock Down 1.4 %

TVE stock opened at C$4.34 on Wednesday. Tamarack Valley Energy has a 1-year low of C$3.44 and a 1-year high of C$5.05. The stock has a market cap of C$2.29 billion, a P/E ratio of 11.11 and a beta of 2.49. The stock’s fifty day simple moving average is C$4.37 and its two-hundred day simple moving average is C$4.33. The company has a current ratio of 0.73, a quick ratio of 0.80 and a debt-to-equity ratio of 34.61.

Tamarack Valley Energy Announces Dividend

The business also recently declared a monthly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, March 14th were given a $0.0127 dividend. This represents a $0.15 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend was Friday, February 28th. Tamarack Valley Energy’s dividend payout ratio (DPR) is presently 38.41%.

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.