Analysts Set Tamarack Valley Energy Ltd (TSE:TVE) PT at C$12.73

Tamarack Valley Energy Ltd (TSE:TVE) has received an average recommendation of “Buy” from the nine brokerages that are currently covering the stock, Marketbeat reports. Nine equities research analysts have rated the stock with a buy rating. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is C$12.73.

A number of research analysts have weighed in on the stock. Canaccord Genuity Group upgraded shares of Tamarack Valley Energy from a “hold” rating to a “buy” rating and boosted their target price for the company from C$12.00 to C$15.00 in a research note on Friday, May 29th. Canadian Imperial Bank of Commerce boosted their target price on shares of Tamarack Valley Energy from C$14.25 to C$15.25 and gave the company an “outperformer” rating in a research note on Friday, May 29th. ATB Cormark Capital Markets boosted 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 research note on Thursday, February 26th. National Bank Financial boosted their target price 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. Finally, Royal Bank Of Canada lifted their target price on shares of Tamarack Valley Energy from C$11.00 to C$12.00 and gave the stock an “outperform” rating in a research note on Monday, April 13th.

Tamarack Valley Energy Stock Up 2.1%

Tamarack Valley Energy stock opened at C$12.80 on Friday. Tamarack Valley Energy has a fifty-two week low of C$4.68 and a fifty-two week high of C$14.03. The stock has a market cap of C$6.12 billion, a PE ratio of -71.11 and a beta of 0.28. The firm’s 50-day simple moving average is C$12.53 and its 200 day simple moving average is C$10.47. The company has a debt-to-equity ratio of 37.62, a quick ratio of 0.80 and a current ratio of 0.69.

Tamarack Valley Energy (TSE:TVE) last released 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 business had revenue of C$375.55 million for the quarter. Research analysts predict that Tamarack Valley Energy will post 0.1386527 EPS for the current fiscal year.

Tamarack Valley Energy Announces Dividend

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

Insider Activity at Tamarack Valley Energy

In other Tamarack Valley Energy news, Director Rene Amirault purchased 78,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were bought at an average cost of C$13.09 per share, for a total transaction of C$1,027,565.00. Following the purchase, the director owned 454,602 shares of the company’s stock, valued at C$5,950,740.18. This represents a 20.87% increase in their position. Also, Director Robert Spitzer sold 10,000 shares of the company’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 transaction of C$130,200.00. Following the sale, the director owned 424,442 shares in the company, valued at C$5,526,234.84. The trade was a 2.30% decrease in their ownership of the stock. 1.32% of the stock is currently owned by corporate 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.