Tamarack Valley Energy Ltd (TSE:TVE) Receives Consensus Rating of “Buy” from Analysts

Tamarack Valley Energy Ltd (TSE:TVE) has earned a consensus rating of “Buy” from the ten ratings firms that are currently covering the firm, Marketbeat reports. Ten analysts have rated the stock with a buy recommendation. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is C$13.70.

Several research firms have recently weighed in on TVE. Roth Capital set a C$15.00 price objective on Tamarack Valley Energy and gave the stock a “buy” rating in a research report on Tuesday, May 19th. Canadian Imperial Bank of Commerce upped their target price on Tamarack Valley Energy from C$14.25 to C$15.25 and gave the company 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 raised their target price for the stock from C$12.00 to C$15.00 in a research note on Friday, May 29th. Raymond James Financial lifted their target price on Tamarack Valley Energy from C$15.00 to C$16.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. Finally, Jefferies Financial Group set a C$17.00 price target on Tamarack Valley Energy and gave the company a “buy” rating in a research note on Tuesday, August 18th.

Insider Buying and Selling at Tamarack Valley Energy

In related news, Director Shannon Joseph bought 27,521 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were acquired at an average cost of C$12.56 per share, with a total value of C$345,663.76. Following the completion of the purchase, the director directly owned 66,376 shares in the company, valued at C$833,682.56. The trade was a 70.83% increase in their ownership of the stock. Also, Director Robert Spitzer sold 10,000 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of C$13.02, for a total transaction of C$130,200.00. Following the completion of the sale, the director owned 424,442 shares of the company’s stock, valued at C$5,526,234.84. The trade was a 2.30% decrease in their ownership of the stock. 1.32% of the stock is owned by corporate insiders.

Tamarack Valley Energy Stock Performance

TSE:TVE opened at C$13.36 on Wednesday. The company has a debt-to-equity ratio of 18.26, a quick ratio of 0.80 and a current ratio of 2.30. Tamarack Valley Energy has a fifty-two week low of C$5.18 and a fifty-two week high of C$14.05. The company has a 50 day simple moving average of C$13.16 and a two-hundred day simple moving average of C$12.23. The company has a market capitalization of C$6.35 billion, a PE ratio of 190.86 and a beta of 0.26.

Tamarack Valley Energy (TSE:TVE) last posted its quarterly earnings data on Tuesday, July 28th. The company reported C$0.43 EPS for the quarter. Tamarack Valley Energy had a net margin of 1.50% and a return on equity of 1.34%. The company had revenue of C$493.95 million for the quarter. Research analysts anticipate that Tamarack Valley Energy will post 0.1386527 earnings per share for the current year.

Tamarack Valley Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 30th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Tuesday, September 15th. This is a boost from Tamarack Valley Energy’s previous quarterly dividend of $0.04. Tamarack Valley Energy’s dividend payout ratio is presently 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.