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

Tamarack Valley Energy Ltd (TSE:TVE) has been given an average rating of “Moderate Buy” by the eight ratings firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is C$7.36.

Several research analysts have recently weighed in on TVE shares. ATB Capital upped their target price on Tamarack Valley Energy from C$7.00 to C$7.25 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Canaccord Genuity Group lowered shares of Tamarack Valley Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 22nd. Desjardins upgraded shares of Tamarack Valley Energy from a “hold” rating to a “moderate buy” rating in a research report on Thursday, October 16th. Raymond James Financial lifted their target price on shares of Tamarack Valley Energy from C$6.50 to C$7.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Finally, CIBC upped their price target on shares of Tamarack Valley Energy from C$7.25 to C$8.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th.

Tamarack Valley Energy Price Performance

Shares of Tamarack Valley Energy stock opened at C$6.96 on Thursday. The firm has a market cap of C$3.42 billion, a PE ratio of -40.94 and a beta of 0.79. Tamarack Valley Energy has a twelve month low of C$3.10 and a twelve month high of C$7.04. The company has a quick ratio of 0.80, a current ratio of 0.73 and a debt-to-equity ratio of 34.61. The business has a 50-day moving average price of C$6.09 and a 200 day moving average price of C$5.26.

Tamarack Valley Energy Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, November 14th will be paid a $0.0127 dividend. This represents a c) annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Friday, October 31st. Tamarack Valley Energy’s dividend payout ratio is currently -89.85%.

Insiders Place Their Bets

In other Tamarack Valley Energy news, Director Shannon Joseph bought 16,129 shares of the stock in a transaction on Thursday, November 6th. The shares were bought at an average price of C$6.32 per share, with a total value of C$101,935.28. Following the purchase, the director directly owned 38,328 shares in the company, valued at C$242,232.96. This trade represents a 72.66% increase in their position. Insiders own 1.32% of the company’s stock.

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.