Brokerages Set Tamarack Valley Energy Ltd (TSE:TVE) Price Target at C$5.00

Shares of Tamarack Valley Energy Ltd (TSE:TVE) have received a consensus recommendation of “Moderate Buy” from the nine ratings firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is C$5.00.

Several equities research analysts recently issued reports on TVE shares. Cormark lifted their price objective on Tamarack Valley Energy from C$4.75 to C$5.00 in a research note on Thursday, May 9th. Stifel Nicolaus boosted their price objective on Tamarack Valley Energy from C$5.25 to C$5.50 in a report on Thursday, May 9th. Desjardins set a C$5.00 target price on shares of Tamarack Valley Energy and gave the company a “buy” rating in a research note on Tuesday, June 25th. Finally, CIBC lifted their target price on shares of Tamarack Valley Energy from C$5.25 to C$5.50 in a research report on Monday, July 15th.

Insider Activity at Tamarack Valley Energy

In other news, Senior Officer Scott Shimek acquired 36,667 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were purchased at an average price of C$3.54 per share, for a total transaction of C$129,845.18. In other Tamarack Valley Energy news, Senior Officer Brian Leslie Schmidt bought 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was bought at an average price of C$3.86 per share, for a total transaction of C$115,800.00. Also, Senior Officer Scott Shimek purchased 36,667 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was bought at an average price of C$3.54 per share, for a total transaction of C$129,845.18. Insiders bought 156,510 shares of company stock worth $574,442 in the last three months. 1.27% of the stock is owned by insiders.

Tamarack Valley Energy Price Performance

The firm has a 50 day moving average price of C$3.80 and a two-hundred day moving average price of C$3.68. The company has a market cap of C$2.22 billion, a P/E ratio of 17.74 and a beta of 2.51. The company has a debt-to-equity ratio of 41.72, a quick ratio of 0.80 and a current ratio of 0.90. Tamarack Valley Energy has a fifty-two week low of C$2.76 and a fifty-two week high of C$4.34.

Tamarack Valley Energy Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be issued a $0.013 dividend. This represents a $0.16 annualized dividend and a dividend yield of ∞. The ex-dividend date of this dividend is Friday, August 30th. Tamarack Valley Energy’s dividend payout ratio is 65.22%.

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.