Tamarack Valley Energy (TSE:TVE) Price Target Raised to C$4.75 at Canaccord Genuity Group

Tamarack Valley Energy (TSE:TVE) had its price objective lifted by Canaccord Genuity Group from C$4.25 to C$4.75 in a research note issued to investors on Wednesday, BayStreet.CA reports. They currently have a buy rating on the stock.

Several other research firms have also commented on TVE. ATB Capital reduced their price target on shares of Tamarack Valley Energy from C$6.00 to C$5.50 and set an outperform rating for the company in a research report on Thursday, February 29th. Stifel Nicolaus upped their price target on shares of Tamarack Valley Energy from C$4.75 to C$5.00 and gave the company a buy rating in a research report on Thursday, February 29th. National Bankshares upped their price target on shares of Tamarack Valley Energy from C$6.00 to C$6.50 and gave the company an outperform rating in a research report on Wednesday, January 10th. Royal Bank of Canada upped their price target on shares of Tamarack Valley Energy from C$4.00 to C$4.25 and gave the company an outperform rating in a research report on Thursday, February 29th. Finally, CIBC reduced their price target on shares of Tamarack Valley Energy from C$5.25 to C$4.50 and set an outperform rating for the company in a research report on Tuesday, January 16th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of C$4.85.

Tamarack Valley Energy Price Performance

Shares of TSE:TVE opened at C$3.80 on Wednesday. Tamarack Valley Energy has a fifty-two week low of C$2.76 and a fifty-two week high of C$4.34. The business has a 50-day simple moving average of C$3.61 and a two-hundred day simple moving average of C$3.51. The company has a debt-to-equity ratio of 43.39, a quick ratio of 0.80 and a current ratio of 0.52. The firm has a market cap of C$2.07 billion, a price-to-earnings ratio of 22.35 and a beta of 2.59.

Tamarack Valley Energy (TSE:TVE) last issued its earnings results on Wednesday, February 28th. The company reported C$0.10 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.06 by C$0.04. Tamarack Valley Energy had a return on equity of 4.34% and a net margin of 6.70%. The business had revenue of C$418.86 million during the quarter. On average, analysts expect that Tamarack Valley Energy will post 0.2799189 earnings per share for the current year.

Tamarack Valley Energy Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be paid a dividend of $0.0125 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 3.95%. Tamarack Valley Energy’s dividend payout ratio (DPR) is presently 88.24%.

Insider Activity at Tamarack Valley Energy

In other Tamarack Valley Energy news, Senior Officer Brian Leslie Schmidt purchased 8,673 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was acquired at an average cost of C$3.55 per share, for a total transaction of C$30,789.15. In other Tamarack Valley Energy news, Senior Officer Scott Shimek purchased 8,500 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was acquired at an average cost of C$4.08 per share, for a total transaction of C$34,680.00. Also, Senior Officer Brian Leslie Schmidt purchased 8,673 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was acquired at an average price of C$3.55 per share, with a total value of C$30,789.15. In the last ninety days, insiders purchased 47,718 shares of company stock worth $178,867. 1.15% of the stock is owned by company insiders.

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.