Tamarack Valley Energy Ltd (TSE:TVE) Receives C$12.73 Consensus Price Target from Analysts

Shares of Tamarack Valley Energy Ltd (TSE:TVE) have been assigned a consensus recommendation of “Buy” from the nine analysts that are currently covering the firm, MarketBeat reports. Nine equities research analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have covered the stock in the last year is C$12.73.

A number of research firms recently weighed in on TVE. Canaccord Genuity Group upgraded shares of Tamarack Valley Energy from a “hold” rating to a “buy” rating and upped their target price for the stock from C$12.00 to C$15.00 in a research note on Friday, May 29th. Canadian Imperial Bank of Commerce upped their price target on Tamarack Valley Energy from C$14.25 to C$15.25 and gave the company an “outperformer” rating in a report on Friday, May 29th. ATB Cormark Capital Markets upped their target price on shares of Tamarack Valley Energy from C$9.50 to C$11.50 and gave the company an “outperform” rating in a report on Thursday, February 26th. Desjardins upped their price objective on shares of Tamarack Valley Energy from C$10.00 to C$10.50 and gave the company a “buy” rating in a research note on Thursday, February 26th. Finally, National Bank Financial upped their price objective on shares of Tamarack Valley Energy from C$10.00 to C$11.50 and gave the company an “outperform” rating in a research note on Thursday, February 26th.

Insiders Place Their Bets

In related news, Director Shannon Joseph purchased 27,521 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was acquired at an average price of C$12.56 per share, for a total transaction of C$345,663.76. Following the completion of the purchase, the director directly owned 66,376 shares of the company’s stock, valued at C$833,682.56. This trade represents a 70.83% increase in their ownership of the stock. Also, Director Rene Amirault bought 78,500 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was purchased at an average cost of C$13.09 per share, for a total transaction of C$1,027,565.00. Following the acquisition, the director owned 454,602 shares of the company’s stock, valued at approximately C$5,950,740.18. This represents a 20.87% increase in their ownership of the stock. 1.32% of the stock is currently owned by insiders.

Tamarack Valley Energy Stock Up 1.4%

Shares of TVE opened at C$12.44 on Friday. The stock has a market capitalization of C$5.95 billion, a PE ratio of -69.11 and a beta of 0.28. Tamarack Valley Energy has a 1 year low of C$4.76 and a 1 year high of C$14.03. The company has a debt-to-equity ratio of 37.62, a quick ratio of 0.80 and a current ratio of 0.69. The company’s 50-day simple moving average is C$12.58 and its 200-day simple moving average is C$10.53.

Tamarack Valley Energy (TSE:TVE) last issued its quarterly earnings results on Wednesday, May 6th. The company reported C$0.20 earnings per share (EPS) for the quarter. The business had revenue of C$375.55 million for the quarter. Tamarack Valley Energy had a negative net margin of 6.60% and a negative return on equity of 5.03%. Analysts forecast that Tamarack Valley Energy will post 0.1386527 earnings per share for the current fiscal year.

Tamarack Valley Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Monday, June 15th. Tamarack Valley Energy’s dividend payout ratio (DPR) is presently -86.62%.

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.