Tamarack Valley Energy Ltd (TSE:TVE) Stock Rated “Buy” by Wall Street Brokerages

Tamarack Valley Energy Ltd (TSE:TVE) has been given an average rating of “Buy” by the eleven ratings firms that are currently covering the company, MarketBeat.com reports. Eleven equities research analysts have rated the stock with a buy rating. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is C$15.08.

A number of equities research analysts have weighed in on the company. Royal Bank Of Canada raised their price objective on Tamarack Valley Energy from C$15.00 to C$17.00 and gave the company an “outperform” rating in a research note on Wednesday, October 21st. Scotiabank set a C$17.00 target price on Tamarack Valley Energy and gave the company a “sector outperform” rating in a research report on Wednesday, September 30th. ATB Cormark Capital Markets lifted their price target on shares of Tamarack Valley Energy from C$16.00 to C$17.25 and gave the stock an “outperform” rating in a research note on Thursday, October 22nd. Jefferies Financial Group set a C$17.00 price target on shares of Tamarack Valley Energy and gave the company a “buy” rating in a report on Tuesday, August 18th. Finally, Raymond James Financial increased their price objective on shares of Tamarack Valley Energy from C$16.00 to C$17.00 and gave the company an “outperform” rating in a research note on Wednesday, September 9th.

Tamarack Valley Energy Price Performance

Tamarack Valley Energy stock opened at C$15.01 on Thursday. The firm has a fifty day moving average of C$13.69 and a 200-day moving average of C$12.00. Tamarack Valley Energy has a 52-week low of C$6.06 and a 52-week high of C$15.16. The company has a quick ratio of 0.80, a current ratio of 2.30 and a debt-to-equity ratio of 18.26. The firm has a market capitalization of C$7.11 billion, a P/E ratio of 214.43 and a beta of 0.41.

Tamarack Valley Energy (TSE:TVE) last announced its quarterly earnings results on Tuesday, July 28th. The company reported C$0.43 earnings per share for the quarter. Tamarack Valley Energy had a net margin of 1.50% and a return on equity of 1.34%. The firm had revenue of C$493.95 million during the quarter. As a group, analysts predict that Tamarack Valley Energy will post 0.14 EPS for the current year.

Tamarack Valley Energy Increases Dividend

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

Insider Transactions at Tamarack Valley Energy

In related news, insider Kevin James Johnston purchased 7,500 shares of Tamarack Valley Energy stock in a transaction dated Thursday, September 17th. The shares were acquired at an average price of C$13.44 per share, with a total value of C$100,800.00. Following the completion of the transaction, the insider owned 104,491 shares of the company’s stock, valued at approximately C$1,404,359.04. This trade represents a 7.73% increase in their position. Also, Director Caralyn Patricia Bennett purchased 36,568 shares of the firm’s 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 completion of the purchase, the director directly owned 169,192 shares of the company’s stock, valued at approximately C$2,243,485.92. This represents a 27.57% increase in their position. In the last 90 days, insiders bought 44,458 shares of company stock worth $590,957. Company 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.