Tamarack Valley Energy (TSE:TVE) Price Target Raised to C$16.50

Tamarack Valley Energy (TSE:TVE) had its price target boosted by Desjardins from C$16.00 to C$16.50 in a report released on Wednesday,BayStreet reports. The firm currently has a buy rating on the stock.

A number of other research firms also recently issued reports on TVE. Raymond James Financial lifted their price objective on shares of Tamarack Valley Energy from C$15.00 to C$16.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. Canaccord Genuity Group raised Tamarack Valley Energy from a “hold” rating to a “buy” rating and increased their target price for the company from C$12.00 to C$15.00 in a research note on Friday, May 29th. 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. Jefferies Financial Group set a C$17.00 price target on Tamarack Valley Energy and gave the company a “buy” rating in a research report on Tuesday, August 18th. Finally, Canadian Imperial Bank of Commerce lifted their price target on Tamarack Valley Energy from C$14.25 to C$15.25 and gave the stock an “outperformer” rating in a research note on Friday, May 29th. Ten research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Tamarack Valley Energy presently has an average rating of “Buy” and an average target price of C$13.93.

Tamarack Valley Energy Trading Down 2.0%

Shares of TVE opened at C$13.29 on Wednesday. Tamarack Valley Energy has a 1-year low of C$5.68 and a 1-year high of C$14.11. The company has a market capitalization of C$6.31 billion, a P/E ratio of 189.86 and a beta of 0.26. The company has a debt-to-equity ratio of 18.26, a current ratio of 2.30 and a quick ratio of 0.80. The firm’s 50 day simple moving average is C$13.26 and its 200 day simple moving average is C$12.34.

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

Tamarack Valley Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 30th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Tuesday, September 15th. This is a boost from Tamarack Valley Energy’s previous quarterly dividend of $0.04. Tamarack Valley Energy’s dividend payout ratio is 225.24%.

Insiders Place Their Bets

In other Tamarack Valley Energy news, Director Shannon Joseph purchased 27,521 shares of the business’s stock in a transaction on Tuesday, June 16th. The stock was acquired at an average cost of C$12.56 per share, for a total transaction of C$345,663.76. Following the completion of the transaction, the director directly owned 66,376 shares in the company, valued at approximately C$833,682.56. This represents a 70.83% increase in their position. 1.32% of the stock is 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.