Tamarack Valley Energy (TSE:TVE) Upgraded to Hold by Raymond James

Raymond James upgraded shares of Tamarack Valley Energy (TSE:TVE) to a hold rating in a research report released on Thursday, Zacks.com reports.

A number of other research firms have also weighed in on TVE. BMO Capital Markets raised shares of Tamarack Valley Energy from a “market perform” rating to an “outperform” rating in a report on Friday, October 4th. CIBC lifted their target price on Tamarack Valley Energy from C$5.25 to C$5.50 in a research report on Monday, July 15th. Desjardins set a C$5.00 price target on Tamarack Valley Energy and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Finally, National Bankshares lowered their price objective on Tamarack Valley Energy from C$7.25 to C$6.75 in a research note on Friday, September 27th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$5.03.

Tamarack Valley Energy Price Performance

Shares of TSE TVE opened at C$3.90 on Thursday. The company has a debt-to-equity ratio of 41.72, a current ratio of 0.90 and a quick ratio of 0.80. Tamarack Valley Energy has a 1-year low of C$2.76 and a 1-year high of C$4.34. The company has a market capitalization of C$2.12 billion, a price-to-earnings ratio of 16.96 and a beta of 2.49. The business has a 50-day moving average of C$3.97 and a 200-day moving average of C$3.85.

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

Tamarack Valley Energy Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be given a dividend of $0.0125 per share. This represents a $0.15 annualized dividend and a dividend yield of 3.85%. The ex-dividend date of this dividend is Thursday, October 31st. Tamarack Valley Energy’s dividend payout ratio is currently 65.22%.

Insider Buying and Selling

In other Tamarack Valley Energy news, Senior Officer Christine Ezinga bought 13,000 shares of the stock in a transaction on Friday, August 23rd. The stock was purchased at an average price of C$3.99 per share, for a total transaction of C$51,870.00. Insiders have bought 28,173 shares of company stock worth $107,945 over the last ninety days. 1.32% of the stock is owned by 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.