Tamarack Valley Energy (TSE:TVE) Price Target Raised to C$16.00

Tamarack Valley Energy (TSE:TVE) had its price objective boosted by Raymond James Financial from C$15.00 to C$16.00 in a research report sent to investors on Wednesday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

A number of other research analysts have also weighed in on TVE. Canadian Imperial Bank of Commerce raised their price target on shares of Tamarack Valley Energy from C$14.25 to C$15.25 and gave the company an “outperformer” rating in a research report on Friday, May 29th. Desjardins set a C$16.00 price objective on shares of Tamarack Valley Energy and gave the company a “buy” rating in a research note on Friday, July 17th. Canaccord Genuity Group raised shares of Tamarack Valley Energy from a “hold” rating to a “buy” rating and lifted their target price for the stock from C$12.00 to C$15.00 in a research report on Friday, May 29th. Royal Bank Of Canada upped their target price on Tamarack Valley Energy from C$11.00 to C$12.00 and gave the company an “outperform” rating in a report on Monday, April 13th. Finally, Roth Capital set a C$15.00 price target on Tamarack Valley Energy and gave the company a “buy” rating in a research report on Tuesday, May 19th. Nine investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of C$13.38.

Tamarack Valley Energy Stock Performance

Shares of Tamarack Valley Energy stock opened at C$13.41 on Wednesday. The business has a 50-day moving average price of C$12.89 and a two-hundred day moving average price of C$11.44. Tamarack Valley Energy has a 1-year low of C$5.18 and a 1-year high of C$14.03. The company has a current ratio of 2.30, a quick ratio of 0.80 and a debt-to-equity ratio of 18.26. The company has a market cap of C$6.37 billion, a P/E ratio of 191.57 and a beta of 0.33.

Tamarack Valley Energy (TSE:TVE) last posted its quarterly earnings results on Tuesday, July 28th. The company reported C$0.43 EPS for the quarter. Tamarack Valley Energy had a net margin of 1.50% and a return on equity of 1.34%. The business had revenue of C$493.95 million during the quarter. As a group, analysts anticipate that Tamarack Valley Energy will post 0.1386527 EPS for the current year.

Tamarack Valley Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were issued a $0.04 dividend. The ex-dividend date was Monday, June 15th. This represents a $0.16 annualized dividend and a yield of 1.2%. Tamarack Valley Energy’s dividend payout ratio (DPR) is 225.24%.

Insider Activity

In other Tamarack Valley Energy news, Director Shannon Joseph acquired 27,521 shares of the business’s stock in a transaction on Tuesday, June 16th. The shares were 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 acquisition, the director owned 66,376 shares in the company, valued at C$833,682.56. This trade represents a 70.83% increase in their ownership of the stock. Also, Director Robert Spitzer sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of C$13.02, for a total value of C$130,200.00. Following the transaction, the director directly owned 424,442 shares of the company’s stock, valued at approximately C$5,526,234.84. This trade represents a 2.30% decrease in their position. 1.32% of the stock is currently owned by company insiders.

Tamarack Valley Energy Company Profile

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.