Analysts Set Tamarack Valley Energy Ltd (TSE:TVE) Price Target at C$4.93

Tamarack Valley Energy Ltd (TSE:TVE) has earned a consensus rating of “Moderate Buy” from the nine analysts that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is C$4.93.

A number of brokerages have recently weighed in on TVE. Raymond James lowered their target price on Tamarack Valley Energy from C$5.00 to C$4.00 and set an “outperform” rating on the stock in a research note on Friday, January 19th. Desjardins increased their price target on Tamarack Valley Energy from C$4.50 to C$4.75 and gave the stock a “buy” rating in a research report on Friday, March 22nd. ATB Capital reduced their price target on Tamarack Valley Energy from C$6.00 to C$5.50 and set an “outperform” rating on the stock in a research report on Thursday, February 29th. BMO Capital Markets set a C$4.00 price target on Tamarack Valley Energy and gave the stock a “market perform” rating in a research report on Thursday, March 21st. Finally, CIBC increased their price target on Tamarack Valley Energy from C$4.50 to C$5.25 and gave the stock an “outperform” rating in a research report on Monday, April 22nd.

Tamarack Valley Energy Price Performance

Shares of TSE TVE opened at C$3.71 on Friday. The firm has a market cap of C$2.02 billion, a P/E ratio of 21.82 and a beta of 2.59. The company has a current ratio of 0.52, a quick ratio of 0.80 and a debt-to-equity ratio of 43.39. Tamarack Valley Energy has a 1-year low of C$2.76 and a 1-year high of C$4.34. The business’s 50 day moving average is C$3.78 and its 200-day moving average is C$3.50.

Tamarack Valley Energy (TSE:TVE) last announced 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. The company had revenue of C$418.86 million for the quarter. Tamarack Valley Energy had a return on equity of 4.34% and a net margin of 6.70%. Equities research analysts predict that Tamarack Valley Energy will post 0.2799189 earnings per share for the current year.

Tamarack Valley Energy Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be issued a $0.0125 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend is Monday, April 29th. Tamarack Valley Energy’s dividend payout ratio is presently 88.24%.

Insider Buying and Selling at Tamarack Valley Energy

In other Tamarack Valley Energy news, Senior Officer Brian Leslie Schmidt bought 9,395 shares of Tamarack Valley Energy stock in a transaction on Wednesday, March 6th. The shares were purchased at an average price of C$3.66 per share, with a total value of C$34,385.70. In other news, Senior Officer Christine Ezinga acquired 21,150 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were bought at an average price of C$3.74 per share, with a total value of C$79,012.17. Also, Senior Officer Brian Leslie Schmidt acquired 9,395 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were purchased at an average cost of C$3.66 per share, for a total transaction of C$34,385.70. In the last quarter, insiders have acquired 47,718 shares of company stock valued at $178,867. 1.15% of the stock is currently owned by corporate 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.