Analysts Set Tamarack Valley Energy Ltd (TSE:TVE) Target Price at C$5.81

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

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

Insiders Place Their Bets

In related news, Senior Officer Brian Leslie Schmidt acquired 84,734 shares of Tamarack Valley Energy stock in a transaction dated 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 company insiders.

Tamarack Valley Energy Stock Performance

TSE TVE opened at C$4.41 on Wednesday. The stock has a market capitalization of C$2.33 billion, a price-to-earnings ratio of 11.29 and a beta of 2.49. The business’s 50 day moving average is C$4.36 and its two-hundred day moving average is C$4.34. Tamarack Valley Energy has a 12-month low of C$3.44 and a 12-month high of C$5.05. 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 announced a monthly dividend, which was paid on Friday, March 14th. Investors of record on Friday, March 14th were paid a $0.0127 dividend. This represents a $0.15 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend was Friday, February 28th. Tamarack Valley Energy’s payout ratio is currently 38.41%.

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.