Brokerages Set Tamarack Valley Energy Ltd (TSE:TVE) Target Price at C$10.90

Tamarack Valley Energy Ltd (TSE:TVE) has been assigned a consensus rating of “Buy” from the nine brokerages that are currently covering the firm, Marketbeat.com reports. Nine analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokers that have covered the stock in the last year is C$12.73.

Several brokerages recently weighed in on TVE. Desjardins increased their price target on shares of Tamarack Valley Energy from C$10.00 to C$10.50 and gave the stock a “buy” rating in a report on Thursday, February 26th. Roth Mkm set a C$15.00 price target on shares of Tamarack Valley Energy and gave the stock a “buy” rating in a report on Tuesday, May 19th. Raymond James Financial upgraded shares of Tamarack Valley Energy from a “market perform” rating to an “outperform” rating and increased their price target for the stock from C$12.00 to C$15.00 in a report on Friday. Acumen Capital increased their price target on shares of Tamarack Valley Energy from C$7.50 to C$10.50 and gave the stock a “buy” rating in a report on Thursday, February 26th. Finally, Canadian Imperial Bank of Commerce increased their price target on shares of Tamarack Valley Energy from C$14.25 to C$15.25 and gave the stock an “outperformer” rating in a report on Friday.

Tamarack Valley Energy Stock Performance

TVE opened at C$12.76 on Monday. Tamarack Valley Energy has a 52-week low of C$4.35 and a 52-week high of C$13.97. The company has a quick ratio of 0.80, a current ratio of 0.69 and a debt-to-equity ratio of 37.62. The company has a market cap of C$6.10 billion, a P/E ratio of -70.89 and a beta of 0.46. The firm’s 50-day moving average price is C$11.90 and its 200-day moving average price is C$9.77.

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

Tamarack Valley Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.3%. 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.