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

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

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

Tamarack Valley Energy Price Performance

TSE TVE opened at C$3.90 on Thursday. Tamarack Valley Energy has a 52 week low of C$2.76 and a 52 week high of C$4.34. The company has a current ratio of 0.90, a quick ratio of 0.80 and a debt-to-equity ratio of 41.72. The stock has a market cap of C$2.12 billion, a price-to-earnings ratio of 16.96 and a beta of 2.49. The company has a 50-day moving average price of C$3.97 and a two-hundred day moving average price of C$3.85.

Tamarack Valley Energy (TSE:TVE) last issued its quarterly earnings data on Thursday, August 1st. The company reported C$0.17 earnings per share (EPS) for the quarter. Tamarack Valley Energy had a return on equity of 5.94% and a net margin of 8.66%. The business had revenue of C$382.98 million during the quarter. Analysts forecast that Tamarack Valley Energy will post 0.1386527 EPS for the current year.

Tamarack Valley Energy Cuts Dividend

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

Insider Activity

In related news, Senior Officer Christine Ezinga bought 8,000 shares of Tamarack Valley Energy stock in a transaction dated Tuesday, August 6th. The stock was acquired at an average cost of C$3.67 per share, with a total value of C$29,367.20. In the last 90 days, insiders purchased 28,173 shares of company stock worth $107,945. Insiders own 1.32% of the company’s stock.

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.