Tamarack Valley Energy (TSE:TVE) Upgraded by Raymond James to “Outperform” Rating

Raymond James upgraded shares of Tamarack Valley Energy (TSE:TVE) from a market perform rating to an outperform rating in a research note released on Thursday morning,BayStreet.CA reports. They currently have C$5.00 price objective on the stock, up from their prior price objective of C$4.50.

A number of other equities research analysts also recently issued reports on the company. Desjardins downgraded Tamarack Valley Energy from a “buy” rating to a “hold” rating and lowered their price target for the company from C$6.00 to C$5.25 in a research report on Wednesday, March 19th. BMO Capital Markets raised their price objective on Tamarack Valley Energy from C$6.00 to C$6.50 in a research report on Thursday, February 13th. Finally, CIBC reduced their target price on shares of Tamarack Valley Energy from C$6.50 to C$5.50 in a research report on Thursday, April 10th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Tamarack Valley Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of C$5.63.

Tamarack Valley Energy Stock Performance

Shares of TVE stock opened at C$3.85 on Thursday. The firm has a market capitalization of C$2.03 billion, a price-to-earnings ratio of 9.86 and a beta of 2.49. The company has a 50 day moving average price of C$3.92 and a 200 day moving average price of C$4.28. Tamarack Valley Energy has a one year low of C$3.10 and a one year high of C$5.05. The company has a debt-to-equity ratio of 34.61, a quick ratio of 0.80 and a current ratio of 0.73.

Tamarack Valley Energy Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 15th will be paid a dividend of $0.0127 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $0.15 dividend on an annualized basis and a yield of 3.96%. Tamarack Valley Energy’s payout ratio is currently 38.41%.

Insider Buying and Selling at Tamarack Valley Energy

In other news, Senior Officer Kevin James Johnston bought 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 9th. The shares were purchased at an average price of C$3.29 per share, with a total value of C$49,350.00. Also, Director Rene Amirault purchased 83,600 shares of the firm’s stock in a transaction on Tuesday, April 15th. The shares were purchased at an average cost of C$3.61 per share, with a total value of C$302,163.84. Over the last three months, insiders have purchased 223,384 shares of company stock worth $900,589. 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.