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

Tamarack Valley Energy Ltd (TSE:TVE) has received a consensus rating of “Moderate Buy” from the nine brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is C$5.03.

TVE has been the subject of several recent research reports. Raymond James raised Tamarack Valley Energy to a “hold” rating in a research note on Thursday, October 17th. BMO Capital Markets upgraded Tamarack Valley Energy from a “market perform” rating to an “outperform” rating in a report on Friday, October 4th. National Bankshares lowered their price objective on shares of Tamarack Valley Energy from C$7.25 to C$6.75 in a research note on Friday, September 27th. Finally, CIBC boosted their target price on Tamarack Valley Energy from C$5.25 to C$5.50 in a research report on Monday, July 15th.

Tamarack Valley Energy Stock Performance

Shares of TSE:TVE opened at C$4.00 on Friday. Tamarack Valley Energy has a 1 year low of C$2.76 and a 1 year high of C$4.34. The company’s 50 day simple moving average is C$3.97 and its 200 day simple moving average is C$3.84. The company has a debt-to-equity ratio of 41.72, a current ratio of 0.90 and a quick ratio of 0.80. The stock has a market capitalization of C$2.18 billion, a price-to-earnings ratio of 17.39 and a beta of 2.49.

Tamarack Valley Energy (TSE:TVE) last announced its quarterly earnings results on Thursday, August 1st. The company reported C$0.17 earnings per share (EPS) for the quarter. The company had revenue of C$382.98 million for the quarter. Tamarack Valley Energy had a net margin of 8.66% and a return on equity of 5.94%. As a group, research analysts predict that Tamarack Valley Energy will post 0.1386527 EPS for the current fiscal year.

Tamarack Valley Energy Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued a $0.0125 dividend. The ex-dividend date is Thursday, October 31st. This represents a $0.15 annualized dividend and a dividend yield of 3.75%. Tamarack Valley Energy’s dividend payout ratio is currently 65.22%.

Insiders Place Their Bets

In related news, Senior Officer Christine Ezinga acquired 13,000 shares of the stock in a transaction on Friday, August 23rd. The shares were acquired at an average price of C$3.99 per share, with a total value of C$51,870.00. Insiders have bought a total of 28,173 shares of company stock valued at $107,945 in the last 90 days. 1.32% of the stock is currently owned by corporate 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.