Tamarack Valley Energy Ltd (TSE:TVE) to Post FY2022 Earnings of $0.69 Per Share, Stifel Firstegy Forecasts

Tamarack Valley Energy Ltd (TSE:TVEGet Rating) – Investment analysts at Stifel Firstegy cut their FY2022 earnings per share estimates for Tamarack Valley Energy in a research report issued on Thursday, May 19th. Stifel Firstegy analyst C. Kwong now expects that the company will post earnings of $0.69 per share for the year, down from their previous estimate of $0.73. Stifel Firstegy also issued estimates for Tamarack Valley Energy’s FY2023 earnings at $0.66 EPS.

A number of other analysts have also weighed in on TVE. ATB Capital raised their target price on shares of Tamarack Valley Energy from C$6.50 to C$6.75 and gave the company a “strong-buy” rating in a research report on Friday, April 22nd. Raymond James set a C$7.25 price target on shares of Tamarack Valley Energy and gave the company a “strong-buy” rating in a research note on Wednesday, May 4th. CIBC lifted their target price on shares of Tamarack Valley Energy from C$7.00 to C$7.50 and gave the stock an “outperform” rating in a research note on Friday, April 22nd. Stifel Nicolaus reissued a “buy” rating and set a C$6.50 target price on shares of Tamarack Valley Energy in a research note on Tuesday, February 1st. Finally, BMO Capital Markets lifted their price target on shares of Tamarack Valley Energy from C$5.25 to C$6.00 in a research note on Friday, March 4th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of C$6.41.

Shares of Tamarack Valley Energy stock opened at C$4.73 on Monday. Tamarack Valley Energy has a fifty-two week low of C$2.05 and a fifty-two week high of C$6.09. The company has a debt-to-equity ratio of 38.73, a current ratio of 0.93 and a quick ratio of 0.85. The firm has a market capitalization of C$2.05 billion and a P/E ratio of 4.38. The company’s 50 day moving average price is C$4.97 and its two-hundred day moving average price is C$4.53.

Tamarack Valley Energy (TSE:TVEGet Rating) last issued its earnings results on Tuesday, May 3rd. The company reported C$0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.17 by C($0.11). The firm had revenue of C$298.90 million for the quarter.

The business also recently declared a monthly dividend, which was paid on Friday, May 13th. Stockholders of record on Friday, April 29th were issued a $0.008 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date was Thursday, April 28th. Tamarack Valley Energy’s payout ratio is 2.31%.

In other news, Director Robert Spitzer purchased 32,685 shares of the company’s stock in a transaction on Wednesday, March 9th. The stock was acquired at an average cost of C$5.42 per share, for a total transaction of C$176,992.54. Following the completion of the transaction, the director now directly owns 385,942 shares in the company, valued at approximately C$2,089,914.52. Also, Director Ian Robert Currie bought 8,775 shares of the stock in a transaction dated Friday, May 6th. The stock was bought at an average cost of C$5.05 per share, for a total transaction of C$44,313.75. Following the acquisition, the director now directly owns 681,351 shares of the company’s stock, valued at approximately C$3,440,822.55. Insiders bought a total of 91,460 shares of company stock valued at $471,306 in the last ninety days.

About Tamarack Valley Energy (Get Rating)

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.

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