Tamarack Valley Energy (TSE:TVE) Price Target Raised to C$17.00

Tamarack Valley Energy (TSE:TVE) had its price target increased by Royal Bank Of Canada from C$15.00 to C$17.00 in a research report sent to investors on Wednesday,BayStreet reports. Royal Bank Of Canada currently has an outperform rating on the stock.

TVE has been the topic of several other reports. Raymond James Financial upped their target price on Tamarack Valley Energy from C$16.00 to C$17.00 and gave the company an “outperform” rating in a research report on Wednesday, September 9th. Scotiabank set a C$17.00 price target on Tamarack Valley Energy and gave the stock a “sector outperform” rating in a report on Wednesday, September 30th. Jefferies Financial Group set a C$17.00 price target on Tamarack Valley Energy and gave the stock a “buy” rating in a research note on Tuesday, August 18th. Desjardins boosted their price target on Tamarack Valley Energy from C$16.00 to C$16.50 and gave the stock a “buy” rating in a research note on Wednesday, September 9th. Finally, Canaccord Genuity Group upped their price objective on shares of Tamarack Valley Energy from C$15.00 to C$16.00 and gave the company a “buy” rating in a report on Wednesday, September 9th. Eleven investment analysts have rated the stock with a Buy rating. According to MarketBeat.com, Tamarack Valley Energy currently has an average rating of “Buy” and an average price target of C$15.08.

Tamarack Valley Energy Price Performance

TSE TVE opened at C$15.06 on Wednesday. The firm’s fifty day simple moving average is C$13.69 and its two-hundred day simple moving average is C$12.99. The company has a current ratio of 2.30, a quick ratio of 0.80 and a debt-to-equity ratio of 18.26. Tamarack Valley Energy has a 12-month low of C$6.06 and a 12-month high of C$15.15. The firm has a market capitalization of C$7.13 billion, a P/E ratio of 215.14 and a beta of 0.41.

Tamarack Valley Energy (TSE:TVE) last issued its quarterly earnings data on Tuesday, July 28th. The company reported C$0.43 EPS for the quarter. The firm had revenue of C$493.95 million during the quarter. Tamarack Valley Energy had a return on equity of 1.34% and a net margin of 1.50%. Analysts forecast that Tamarack Valley Energy will post 0.14 EPS for the current fiscal year.

Tamarack Valley Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 30th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.3%. This is a boost from Tamarack Valley Energy’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Tuesday, September 15th. Tamarack Valley Energy’s dividend payout ratio is presently 225.24%.

Insider Buying and Selling at Tamarack Valley Energy

In other news, insider Kevin James Johnston bought 7,500 shares of the business’s stock in a transaction that occurred on Thursday, September 17th. The shares were purchased at an average cost of C$13.44 per share, with a total value of C$100,800.00. Following the transaction, the insider directly owned 104,491 shares in the company, valued at approximately C$1,404,359.04. The trade was a 7.73% increase in their ownership of the stock. Also, Director Caralyn Patricia Bennett bought 36,568 shares of Tamarack Valley Energy stock in a transaction that occurred on Monday, September 21st. The stock was purchased at an average price of C$13.26 per share, with a total value of C$484,891.68. Following the purchase, the director directly owned 169,192 shares in the company, valued at C$2,243,485.92. The trade was a 27.57% increase in their ownership of the stock. Over the last three months, insiders purchased 44,458 shares of company stock worth $590,957. 1.32% of the stock is owned by 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.